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.


More News

Houthi missile strike on Saudi airport injures 26

26 civilians have been injured in a missile strike by Yemen’s Houthi rebels on Abha airport in the south-west of the kingdom. The strike was reportedly a cruise missile, and comes just two days after […]

Saudi air defences intercepted Houthi drone attack

Saudi air defence forces intercepted two drones launched by the Yemeni Houthi rebels, targeted Khamis Mushait in the South of the Kingdom on Monday. The attack caused no damage or casualties. The Houthi rebels are […]

Saudi Royals welcome Qatar diplomats in Jeddah

A step forward in relations between the Saudi and Qatari Royal family’s has been heralded by Qatari diplomats travelling to Saudi Arabia for talks with King Salman in preparation for their country’s attendance at a […]