Saudi Aramco seeks record-setting IPO with value up to $1.7T

Saudi Aramco seeks record-setting IPO with value up to $1.7TSaudi Arabia’s state-owned oil giant Aramco announced Sunday it will sell a 1.5% stake in the company as it looks to raise as much as $25.6 billion from the sale, potentially becoming the most-valuable initial public offering in history. The newly released figures also revealed a valuation for the company that’s between $1.6 trillion and $1.7 trillion, a figure that fell short of the $2 trillion mark Crown Prince Mohammed bin Salman had sought. Saudi Aramco announced it will have 200 billion regular shares, selling 1.5% or what is 3 billion shares.




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