Saudi Aramco prospectus flags risks, gives few details on IPO size - Reuters:
Saudi state oil giant Aramco will sell up to 0.5% of its shares to individual retail investors and will be restricted from issuing additional shares for a year after the initial public offering (IPO), its prospectus said on Saturday.
Aramco fired the starting gun on what is likely be the world’s largest listing on Nov. 3 after a series of delays. The offering, set to rank it as the world’s most valuable company, will begin on Nov. 17, the prospectus said.
Crown Prince Mohammed bin Salman is seeking to sell the shares to raise billions of dollars to diversify the Saudi economy away from oil by investing in non-energy industries.
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