"Saudi Arabian state-owned oil giant Saudi Aramco said in an updated prospectus Sunday that it's set an initial valuation of $1.6 trillion to $1.71 trillion.
Why it matters: The IPO could potentially be the world’s biggest, though it does fall short of Saudi Crown Prince Mohammed bin Salman's hopes of a $2 trillion valuation.
By the numbers: Aramco said it intends to raise up to 96 billion riyals ($25.6 billion) by selling 1.5% of its shares at 30-32 riyals ($8-$8.5)."
Why it matters: The IPO could potentially be the world’s biggest, though it does fall short of Saudi Crown Prince Mohammed bin Salman's hopes of a $2 trillion valuation.
By the numbers: Aramco said it intends to raise up to 96 billion riyals ($25.6 billion) by selling 1.5% of its shares at 30-32 riyals ($8-$8.5)."