Saudi’s Aramco worth R25trn
Saudi Aramco’s initial public offering (IPO) will be the biggest in history, but will fall short of the towering $2 trillion valuation sought by Crown Prince Mohammed bin Salman.
Saudi Arabia’s state-owned oil company priced its IPO at 32 riyals (R125) per share, the company said in a statement, raising R374 billion.
At that level, Aramco has a market valuation of R25 trillion, overtaking Apple as the world’s most valuable listed firm. –