#Saudi Aramco launches long-awaited IPO | Financial Times

Saudi Aramco launches long-awaited IPO | Financial Times:

Saudi Aramco launched its long-awaited initial public offering on Sunday after delays triggered by doubts over the ability of the world’s most profitable company to secure the $2tn valuation coveted by the oil-rich kingdom’s Crown Prince Mohammed bin Salman. 


The listing of the state energy firm is the centrepiece of Prince Mohammed’s ambitious plan to overhaul Saudi Arabia’s oil-addicted economy and would mark a milestone in his aggressive drive to reshape the conservative kingdom.

It is expected to be the world’s largest IPO with Riyadh hoping to raise as much as $60bn. However, the process has been dogged by questions over the valuation of Saudi Aramco, with bankers and analysts saying $1.2tn to $1.5tn is more realistic.