#Saudi Aramco's $2trn valuation imminent, say experts - Arabianbusiness

Saudi Aramco's $2trn valuation imminent, say experts - Arabianbusiness:

Saudi Aramco is likely to surge past the $2 trillion valuation mark shortly after it begins trading this week following an initial valuation of approximately $1.7 trillion in its IPO, according to Saudi officials and industry experts.

On Friday, Saudi energy minister Prince Abdulaziz bin Salman – the half-brother of Crown Prince Mohammed bin Salman – said that while the kingdom lowered the valuation it was seeking, it is likely to rise after shares begin trading on December 11.

“Aramco will be higher than the $2 trillion, and they can bet this will happen,” Prince Abdulaziz was quoted as saying by Bloomberg, adding that he believes the company will hit that valuation in “a few months”.

The minister’s comments were echoed in a circular by Dubai-based Dalma Capital, which is participating in the Aramco IPO through three funds it manages.