Aramco shares will sell on the Riyadh stock exchange at a starting prices of 32 riyals, putting the value of the company at USD 1.7 trillion, the sources said, making it the biggest company ever.
PTI
Updated:December 5, 2019, 10:57 PM IST
Image for representation. (Reuters)
New York: 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 USD 25.6 billion, two sources told AFP.
Aramco shares will sell on the Riyadh stock exchange at a starting prices of 32 riyals, putting the value of the company at USD 1.7 trillion, the sources said, making it the biggest company ever.
That sum raised by the oil giant surpasses the USD 25 billion raised by the Chinese online trading group Alibaba in 2014 when it entered Wall Street.
Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.
Source: News18