#Saudi Aramco IPO News: Pricing May Fall at Top of Expected Range - Bloomberg

Saudi Aramco IPO News: Pricing May Fall at Top of Expected Range - Bloomberg:

Saudi Aramco is considering pricing its initial public offering at the top end of a marketed range, which would make it the world’s biggest-ever new listing, people with knowledge of the matter said.

The Gulf energy giant has discussed pricing its IPO shares at 32 riyals apiece, after marketing them at 30 to 32 riyals each, according to the people. Many local fund managers placed orders at that level under the assumption strong domestic demand will lead the deal to price at the top, the people said, asking not to be identified because the information is private.

Saudi Arabia is selling a 1.5% stake in the state oil producer through the offering. The deal would raise $25.6 billion if it prices at the top end, surpassing Chinese internet giant Alibaba Group Holding Ltd.’s $25 billion U.S. share sale in 2014 as the largest IPO of all time, according to data compiled by Bloomberg.