Saudi Arabia set for world’s largest IPO with Aramco

Wednesday 01st Mar 2017
A general view shows the Saudi Aramco oil facility in Dammam city, 450 kms east of the Saudi capital Riyadh, 23 November 2007. Sky-rocketing oil prices that are within striking distance of 100 dollars a barrel have flooded the coffers of the six Gulf Cooperation Council (GCC) members -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates -- which supply one fifth of world demand. AFP PHOTO/HASSAN AMMAR (Photo credit should read HASSAN AMMAR/AFP/Getty Images)

A general view shows the Saudi Aramco oil facility in Dammam

Saudi Arabia is set to break the world record for the largest IPO – currently held by Alibaba Group Holding Ltd, a Chinese Internet retailer, which raised $25 billion back in 2014 – and remains three years later the highest value IPO globally.

Aramco, the state-owned oil company of Saudi Arabia, is preparing for an IPO next year that will almost certainly beat Alibaba’s record. The KSA are aiming to sell 5 per cent of Saudi Aramco – which would have a sale value worth around $100 billion, four times the world’s biggest IPO of Alibaba. The share sale will value the company at $2 trillion. It will be far bigger than any of the biggest listed companies such as Apple, Berkshire Hathaway, Facebook, ExxonMobil and JPMorgan Chase.


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