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Aramco’s Delayed IPO Is Finally Set to Hit the Market
The Saudis are hoping to take a slice of the firm public at a valuation of $2 trillion, but investors may find that too pricey.
13 Oct 2019, 12:29 PM IST
(Bloomberg Businessweek) -- Crown Prince Mohammed bin Salman had only just started his rise to global notoriety when he stunned the global business community in early 2016 by promising to sell shares in the Saudi Arabian Oil Co., the state oil producer. Now, after several false starts, the initial public offering of Saudi Arabia’s crown jewel—Aramco, which pumps 10% of the global crude oil supply from abundant fields under the kingdo...
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