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Saudi Aramco Plans Record $25.6bn Ipo, Topping Alibaba - Nikkei Asian Review
DUBAI, United Arab Emirates -- Saudi Aramco is looking to raise up to $25.6 billion in its initial public offering planned for December, overtaking the $25 billion record set by China's Alibaba Group Holding in 2014. Officially known as Saudi Arabian Oil Co., the state-run petroleum and gas company announced Sunday that it plans to sell 1.5% of its shares for 30 to 32 Saudi riyal apiece on the Saudi Stock Exchange. The price puts its valuation between $1.6 billion ... Full investment news article
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University of Nebraska Foundation,
Saudi Aramco’s Ipo: What To Know About The World’s Most Profitable Company’s Public Offering
President and CEO of Saudi Aramco Amin Nasser (left) and Aramco’s chair Yasir al-Rumayyan attend a press conference in the eastern Saudi Arabian region of Dhahran on November 3, 2019. | AFP via Getty Images The oil company that made Saudi Arabia rich is going public. Some say the timing couldn’t be worse. Pop quiz: What’s the most profitable company in the world? Apple? Google? Nope. Those two don’t even come close. The answer is Saudi Arabia’s state oil company, ... Full investment news article
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University of Nebraska Foundation,