Saudi Aramco's record IPO will make it more valuable than Apple and Microsoft by skleb1234
Saudi Arabia’s state oil company, Saudi Aramco, is forging ahead with the world’s largest initial public offering, pricing its shares at the top of its indicative range with a $1.7 trillion valuation, overtaking behemoths like Apple and Microsoft for the title of the world’s largest company,Aramco priced its IPO at $8.53 per share, the top of its indicative range, meaning that it is set to raise $25.
6 billion in the world’s largest ever public offering—eclipsing e-commerce giant Alibaba’s record $25 billion listing in 2014.to list its shares on Saudi Arabia’s local stock exchange, the Tadawul, later this month., which is still short of the $2 trillion valuation sought by Crown Prince Mohammed bin Salman—but more than enough to overtake companies like Apple, worth $1.17 trillion, and Microsoft, worth $1.14 trillion.
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