Saudi Aramco Raises $25.6bn In Largest-Ever IPO
December 5, 2019
3:18 pm
Saudi Arabia’s state oil company Aramco launched its initial stock offering on Thursday, pricing at the high end of the target range and raising $25.6 billion, two sources told AFP.
That sum raised by the oil giant surpasses the $25 billion raised by the Chinese online trading group Alibaba when it debuted on Wall Street in 2014.
The market launch also puts the Saudi oil behemoth’s value at $1.7 trillion, far ahead of other corporate giants in the trillion-dollar club: Apple ($1.2 trillion), Microsoft and Alibaba ($1.1 trillion).
However, it fell short of the $2 trillion mark the kingdom’s de …
