Give or take a trillion: Investors still in the dark on Saudi Aramco value - Reuters:
Saudi Aramco’s blockbuster listing remained shrouded in mystery on Monday, a day after the company finally announced its plans, with scant details disclosed and expert valuations varying wildly from around $1.2 to $2.3 trillion.
The state oil giant, the world’s most profitable company, fired the starting gun on a domestic initial public offering (IPO) on Sunday after a series of false starts that had kept the investment world guessing.
However potential investors, rattled by a damaging attack on Aramco’s facilities in September, were not given key details usually included in “intention to float” notices - such as how much of the company will be sold, and when the sale will happen.
Now fund managers are poring over bank research about the famously secretive company, but little certainty has been provided even by analysts from the Wall Street giants with roles in the IPO, five investment and banking sources told Reuters.
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