We would like to tell you about a significant event in the world oil industry. Saudi Aramco, the Saudi national oil company, expects to IPO its shares at a price set at the upper end of the price range. If that happens, Aramco’s IPO would be the world’s largest listing.
Yesterday, December 4, the acceptance of applications from institutional investors was completed. According to financial advisers, institutional investors have already signed up for 5.9 billion shares of the company.
By the way, the base range of the offering price will be 30–32 Saudi riyals ($8–8. 53 per share).
Aramco intends to offer a 1.5% of shares. Bloomberg reports that if the deal passes the top price range it will yield $25.6 billion. Thus overtaking the cost of the 2014 share sale of Chinese Internet giant Alibaba Group Holding Ltd., which yields $25 billion and is today considered the largest in the world.
Although the cost of the Saudi oil company when offered at the upper end of the IPO price range has not yet been definitively established, according to some reports, it can reach $1.71 trillion.
