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  • Aramco Valued at $1.7 Trillion in World’s Biggest IPO

    Aramco Valued at $1.7 Trillion in World’s Biggest IPO

    Saudi Aramco priced its initial public offering Thursday at the high end of the targeted range to give the oil giant a total value of $1.7 trillion in the world’s biggest-ever IPO.

    The state-controlled Saudi Arabian Oil Co., commonly known as Aramco, said it would sell 3 billion shares, or a 1.5% stake of the company, at 32 Saudi riyals ($8.53), or at the top of the targeted range of 30 to 32 riyals for a total of $25.6 billion. That exceeds the $25 billion IPO in 2014 of Chinese online commerce company Alibaba Group Holding.

    H/T: WSJ

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