Aramco Says To Sell 1.5% In IPO Worth At Least $24 Bn
Mohammad Ali (@ChaudhryMAli88) Published November 17, 2019 | 12:40 PM
Riyadh, (UrduPoint / Pakistan Point News - 17th Nov, 2019 ) :Saudi Aramco said Sunday it would sell 1.5 percent of the company in a blockbuster IPO worth at least $24 billion which values it at up to $1.71 trillion.
"The base offer size will be 1.
5 percent of the company's outstanding shares," the state-owned energy giant said in a statement that set the price range at 30-32 Saudi Riyals per share ($8-8.5).
The offering is scaled down from original plans which had aimed for a $2.0 trillion valuation, but it could still rival the world's biggest listing so far -- the $25 billion float of Chinese retail giant Alibaba in 2014.
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