Riyadh – Mubasher: Saudi Arabia’s Crown Prince Mohammed bin Salman has reportedly approved the announcement of Saudi Aramco’s initial public offering on Sunday, sources told Reuters.
A group of Aramco’s officials and advisers have recently held meetings with investors to value the mammoth company at $2 trillion.
“Bankers and company insiders say Aramco’s value is closer to $1.5 trillion. At that price, Aramco would still be worth at least 50% more than the world’s most valuable companies, Microsoft and Apple, which each have a market capitalisation of around $1 trillion,” the international news agency said.
Saudi Arabia is planning to list from 1% to 2% of Aramco's shares on the Saudi Stock Market, Tadawul, to raise a range between $20 billion and $40 billion.
