Saudi Aramco to list near 5 pct stake in 2018 - official

Saudi Aramco IPO looks to raise $25.6 billion

Dec 08, 2019
1 min read
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Saudi Aramco announced that it plans to sell 3 billion shares at 32 riyals ($8.53) each to investors when it launches its IPO on Wednesday. This listing would raise $25.6 billion and make it the world largest stock debut on record.

The price values Aramco at $1.7 trillion, which falls short of the intial hope for a valuation close to $2 trillion.

The Saudi securities exchange, Tadawul, said in a statement on Friday that Saudi Aramco's shares will start trading on Wednesday 11th. 

The state-owned oil business will emerge as the world’s most valuable listed company after valuing its shares at $1.7tn ahead of Apple which is worth about $1.15 trillion. The price would also beat the record $25 billion debut of the Chinese online retailer Alibaba in 2014.


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