Saudi’s Aramco worth R25trn

The Citizen (KZN) - - Business -

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. –

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