World’s Biggest IPO Tests Saudis’ Faith in Their Crown Prince - Bloomberg:
Nawaf Abdel-Aziz has never put any money into the stock market before, but he says buying shares in the world’s most profitable company is a no-brainer.
The 29-year-old engineer from Riyadh is among the Saudi faithful waiting to get a piece of Crown Prince Mohammed bin Salman’s much vaunted—and delayed—sale of a stake in oil giant Aramco. The initial public offering, likely the biggest in history, is expected to get the green light in coming days.
“It's not a random investment,” said Abdel-Aziz, as he and a friend waited for a table at a burger and sushi place in a swanky open-air mall in the Saudi capital. “The company has a history. It’s very stable. We can see where they’re headed.”
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