Saudi Aramco: Long-awaited IPO of state-run oil giant formally announced by Saudi Arabia

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Crown Prince Mohammed bin Salman is hoping for a $2tn (£1.5tn) valuation of Aramco to fund his ambitious plans for Saudi Arabia.

In comparison, Apple and Microsoft are valued at $1tn each.

It said the company's revenues and other income related to sales for the same period amounted to $244bn .

 

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PrinceBoneSaw

Massively bloated valuation from the corrupt and desperate Saudis. The share price will drop by half within a year. Diversification is failing for them and they have no way of sustaining their dictatorial system and excessive lifestyles. The beginning of the end...

War criminals

Is he getting skint

People are going to die! If Saudi Arabia doesn't get what they want..

Hopefully nowhere near that. We need to be ditching oil.

I wasn't waiting for it.

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