Saudi Aramco: the oil colossus - Reuters:
Aramco, as Saudi Arabian Oil Co is usually known, is set to add another superlative to the list: the world’s most valuable listed company.
The sprawling state-owned oil giant announced on Sunday its intention to float on the Riyadh stock market, saying the percentage of shares to be sold would be determined at the end of the book-building period.
Sources have said Aramco could offer 1%-2% of its shares on the local bourse, raising as much as $20 billion-$40 billion.
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