Aramco declares $1.71 trillion valuation in blockbuster IPO
Sunday, 17 November 2019 Saudi Arabia on Sunday put a value of up to $1.71 trillion on energy giant Aramco in what could be the world's biggest IPO, but missed Crown Prince Mohammed bin Salman's initial target of $2 trillion. Aramco said it would sell 1.5 per cent of the company in a blockbuster initial public offering worth at least $24 billion. "The base offer size will be 1.5 per cent of the...
Saudi Aramco is worth up to $1.7 trillion at the IPO price range set by the oil giant on Sunday, below the $2 trillion touted by Saudi's crown prince but still vying for the title of the world's biggest IPO. Emer McCarthy reports.
The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But as Francis Maguire reports Saudi Aramco sees things differently.