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Saudi Aramco takes another step toward 1st public offering

WorldNews Monday, 11 November 2019
Saudi Aramco takes another step toward 1st public offeringDUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil giant Aramco released a lengthy document late Saturday that lays the ground for investors to buy into the world’s most profitable company, but it remains unknown how much is on offer. In its preliminary prospectus, Aramco revealed that it will sell up to 0.5% of its shares to individual retail investors. It did not indicate how much will be made available to institutional investors. Still, the highly-anticipated sale of even less than 2% of the company has been generating global buzz because even a sliver would make this the world’s biggest initial public offering. Saudi Aramco is the kingdom’s oil and...
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Credit: Al Jazeera STUDIO - Published < > Embed
News video: Aramco IPO expected to lean on Saudi investors and China

Aramco IPO expected to lean on Saudi investors and China 03:06

As Saudi Arabia gears up to sell shares in its national oil company - questions remain about how much it is really worth.

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