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State-owned oil giant Saudi Aramco is worth up to $1.7 trillion in a new IPO range, setting the stage for the world's largest public listing

State-owned oil giant Saudi Aramco is worth up to $1.7 trillion in a new IPO range, setting the stage for the world's largest public listing
REUTERS/Hamad I Mohammed/File Photo



State-owned oil giant Saudi Aramco on Sunday released a range for its initial public offering that places its valuation up to $1.7 trillion ahead of its public debut that's expected to be the largest on record.




The statement published on Sunday to Aramco's website marks a milestone in the company's closely watched path to the public market.




The company filed a key document last week detailing risks to its operations like climate change and terrorism, armed conflict, and political unrest in the region.




Aramco is expected to begin publicly trading next month on Saudi's stock exchange, the Tadawul. Saudi Arabia's leader, Mohammed bin Salman, has said he belives the company is worth $2 trillion.




The crown price's kingdom has come under scrutiny for journalist Jamal Khashoggi's murder inside the Saudi consulate in Istanbul last October. Bin Salman said in a September interview with CBS News that he takes "full responsibility" for Khashoggi's murder, but denied that he ordered it.




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State-owned oil giant Saudi Aramco on Sunday released a range for its initial public offering that places its valuation up to $1.7 trillion ahead of its public debut that's expected to be the largest on record.
Aramco said it planned to sell a 1.5% stake in itself to investors, or some 3 billion shares. The Saudi Arabia-run company is targeting a price range of 30 to 32 Saudi riyals, or around $8.00, per share.
Aramco, the world's most profitable company with $111 billion in 2018 net income, is expected to begin publicly trading next month on the Tadawul, Saudi's stock exchange. The statement published on Sunday to Aramco's website marks a milestone in the company's closely watched path to the public market.
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