Saudi Aramco Shoots For The Highest Possible Valuation | OilPrice.com:
Saudi Arabia’s oil giant Aramco is assessing setting the final offer price of its initial public offering at the top of the indicative range, which would raise US$25.6 billion and surpass the current record for the biggest IPO ever, Bloomberg reported on Wednesday, quoting people familiar with the discussions.
Aramco has set an indicative price range of 30-32 Saudi riyals, (US$8-8.52), per share, in its long-awaited IPO. The upper end of the pricing range would give the company a total value of some US$1.7 trillion.
Saudi Arabia aims to raise more than US$25 billion from selling 1.5 percent in its crown jewel. If Aramco does price the shares at the top end of the range, it would generate US$25.6 billion from the IPO, beating the US$25-billion IPO of Alibaba on the New York Stock Exchange in 2014.
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