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Saudi Aramco in Race for IPO Record with USD 1.7 trillion Top Value

Source: Reuters 11/17/2019, Location: Middle East

Saudi Aramco is worth up to $1.7 trillion (£1.3 trillion) at the price range set by the oil giant on Sunday, below the $2 trillion sought by Saudi’s crown prince but putting it in the running to become the world’s biggest IPO.

Aramco cannot sell its shares directly to investors in the United States and other markets, as the initial public offering (IPO) will be restricted to Saudis and those foreign institutions permitted to invest in the kingdom’s stock market.

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