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Saudi Arabia is reportedly trying to get the Kingdom's billionaires to buy stock in Aramco's mega-IPO

Saudi Arabia is reportedly trying to get the Kingdom's billionaires to buy stock in Aramco's mega-IPO
AP Photo/Majdi Mohammed, File



Saudi Arabia is trying to get the country's wealthiest citizens to buy stock in Aramco's upcoming IPO, according to Bloomberg.




The group reportedly includes the likes of the billionaire Olayan family, which is considering the purchase of several hundred million dollars of stock.




Aramco's IPO is expected to be the biggest in history, with Saudi officials seeking a valuation of $2 trillion, although bank estimates have come in lower.




The oil giant is due to go public on December 11.




View Business Insider's homepage for more stories.




Saudi Arabia is trying to get the country's wealthiest citizens to buy stock in Aramco's upcoming IPO, according to Bloomberg.
The Saudis are currently negotiating with the nation's wealthiest citizens for the purchase of large amounts of Aramco stock. The group reportedly includes the likes of the billionaire Olayan family, which is considering the purchase of several hundred million dollars worth of shares.
The Olayan family currently owns a major stake in the European bank Credit Suisse, while a family member also sits on the Morgan Stanley's board, according to Bloomberg.
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