Saudi Aramco value in bank research varies by more than $1 trillion - sources

Valuations for Saudi Aramco vary by more than $1 trillion, according to fund man...

- Valuations for Saudi Aramco vary by more than $1 trillion, according to fund managers who have seen banks’ research, underscoring the uncertainty hanging over what could be the world’s largest stock market listing.

Sources have told Reuters that Aramco could offer 1%-2% of its shares, raising as much as $20 billion to $40 billion. A deal over $25 billion would top the record-breaking IPO of Chinese e-commerce giant Alibaba in 2014. Bank of America Merrill Lynch estimates Aramco’s valuation at $1.2 trillion to $2.3 trillion while EFG Hermes has a valuation of $1.55 trillion to $2.1 trillion, two fund managers who have seen the research reports told Reuters.

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