Saudi Aramco is worth up to $1.7 trillion at the price range set by the oil giant on Nov. 17, below the $2 trillion sought by Saudi's crown prince but putting it in the running to become the world's biggest IPO.
The imminent listing of oil giant Saudi Aramco will be a pivotal moment for Saudi Arabia's young and untested Tadawul stock exchange.
Valuation and foreign investor demand for Aramco’s IPO will be a big test for Riyadh with Saudi Crown Prince Mohammed bin Salman targeting a valuation of $2 trillion.
Saudi Aramco aims to announce the start of its IPO on Nov. 3, three people with direct knowledge of the matter told Reuters, after delaying the deal earlier this month.
audi state oil company Aramco has hired UBS Group and Deutsche as bookrunners for its initial public offering, two sources familiar with the matter said, in a sign that the deal is moving ahead despite a recent attack on Saudi oil facilities.
The 24th edition of the World Energy Congress shined the lights on critical issues facing the energy sector, and key requirements to unlock potential and abundant opportunities.
Saudi Aramco's CEO, Amin Nasser, said on Sept. 10 a domestic IPO of the state oil giant would be the primary listing but that it was also ready for an international offering.