DUBAI - Saudi Aramco has set a price range for its listing that implies the oil giant is worth between US$1.6 trillion to US$1.7 trillion , below the US$2 trillion the Saudi crown prince had targeted but still making it potentially the world's biggest IPO.
Aramco's float is the centrepiece of Crown Prince Mohammed bin Salman's plan to diversify the world's top crude exporter away from oil. But the investment world is still trying to decide what the famously secretive company is worth. Analysts from banks working on the Riyadh bourse had projected a wide valuation range for Aramco of between US$1.2 trillion to US$2.3 trillion.
The deal is also rife with political risk as the Saudi government, which relies on Aramco for the bulk of its funding, will continue to control the company. Prince Mohammed's reputation was tarnished by the murder of Saudi journalist Jamal Khashoggi last year. Retail investors have until Nov 28 to sign up for the IPO while institutional investors can subscribe until Dec 4, with company management going on marketing roadshows this week.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Aramco valuation set at up to US$1.7 trillion, no overseas roadshows for IPOSaudi Aramco has set a price range for its listing that implies the oil giant is worth between US$1.6 trillion to US$1.7 trillion, below the US$2 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Saudi Aramco will not market IPO in the United States: sourcesSaudi Aramco does not plan to market its domestic initial public offering (IPO) in the United States, two sources familiar with the matter said.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Football diplomacy with Qatar hints at Saudi 'peace' effortA Saudi-led bloc's decision to play a football tournament in rival Qatar could herald a rapprochement after a two-year stand-off, and signal Riyadh is tempering its muscular approach that stoked regional crises. Gulf powerhouse Saudi Arabia has adopted an aggressive policy under de facto leader
Source: YahooSG - 🏆 3. / 71 Read more »
Football diplomacy with Qatar hints at Saudi 'peace' effortA Saudi-led bloc's decision to play a football tournament in rival Qatar could herald a rapprochement after a two-year stand-off, and signal ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Saudi Aramco valuation set at up to US$1.7 trillion, no overseas roadshows for IPOSaudi Aramco has set a price range for its listing that implies the oil giant is worth between US$1.6 trillion to US$1.7 trillion, below the US$2 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Saudi Aramco will not market IPO in the United States: sourcesSaudi Aramco does not plan to market its domestic initial public offering (IPO) in the United States, two sources familiar with the matter said.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »