Saudi Aramco's IPO is set to price at the top of the targeted range, valuing the energy giant at $1.7 trillion, say people familiar with the matter
Saudi Aramco is expected to price 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 what would be the world’s biggest-ever IPO, according to people familiar with the matter.
The state-controlled Saudi Arabian Oil Co., commonly known as Aramco, is set to sell 3 billion shares or 1.5% stake of the company at 32 Saudi riyals , or at the top of the targeted range of 30 to 32 riyals for a total of $25.6 billion. That would exceed the $25 billion...
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