Saudi Aramco has gone for IPO race with $1.7 trillion top value

FILE PHOTO: The logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo

On Sunday, it was seen that Saudi Aramco is said to be worth nearly $1.7 trillion. With these prices, it was observed that this price range, which was set by the company is giant. By putting it below $2 trillion marks by Saudi Prince, it has made the company to become the world’s biggest IPO.

It was learned that Aramco couldn’t go for selling the shares directly to the investors present in the US and other markets. All these came after there was an initial offering in IPO, which restricted Saudis and other foreign institutions that are permitted to invest in this market.

After all these listings, the company said that it had got plans to sell nearly 1.5 percent of the company or nearly 3 billion shares for 30 riyals. With all these, it will value the IPO of almost 96 billion riyals or $25.6 billion.

With all these things, it will, at last, give you a potential market value, which is nearly $1.6 trillion or $1.7 trillion.

As per chief executive of Dubai-based Dalma Capital management Ltd, they are planning to subscribe to the IPO in two funds, and all they want to manage in the right way.  Zachary Cefaratti said that this all is in line with the company’s expectations.

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