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Saudi Arabia kick-starts IPO of world's largest oil company

IndiaTimes Sunday, 3 November 2019 ()
Saudi Arabia's state oil company kick-started its initial public offering (IPO) on Sunday, announcing its intention to list on the domestic bourse as the kingdom seeks to diversify and create the world's most valuable listed company. Aramco did not give a time frame or say how much of the company it would sell, but sources have told Reuters the oil company could offer 1%-2% of its shares on the local bourse, raising as much $20 billion-$40 billion.
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News video: Saudi Arabia kicks off IPO of world's biggest oil company

Saudi Arabia kicks off IPO of world's biggest oil company 01:52

Saudi Aramco started its initial public offering on Sunday, seven weeks after crippling attacks on its oil facilities. David Doyle reports.

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