Saudi Arabia's Crown Prince Mohammed bin Salman on Friday agreed that the i...
DUBAI/RIYADH - Saudi Arabia’s Crown Prince Mohammed bin Salman on Friday agreed that the initial public offering of state oil giant Aramco will be announced on Sunday, five sources familiar with the matter told Reuters.
Although Crown Prince Mohammed put a $2 trillion valuation on the company in early 2016, bankers and company insiders say Aramco’s value is closer to $1.5 trillion. If the deal exceeds $25 billion, Aramco will become the biggest IPO in the world, topping Alibaba’s $25 billion IPO in 2014.
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