COLUMN-Saudi Aramco's behaviour after IPO matters more than lofty $1.7 trillion valuation: Russell - Reuters:
The market focus on the valuation of Saudi Aramco’s initial public offering is similar to Bugatti Chiron owners focusing on their vehicles’ top speeds - interesting, but of little relevance.
The $1.7 trillion upper value placed on the Saudi state oil company, the world’s largest crude exporter, will no doubt generate speculation as to whether it’s too high, and whether it will be viewed as reasonable enough to attract interest beyond the kingdom’s small domestic equity market.
But these discussions are largely irrelevant for the crude oil market.
By far the most important question for crude markets is whether the IPO of Aramco (IPO-ARMO.SE) will alter the behaviour of the oil giant in any meaningful way likely to make an impact on market dynamics?
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