Saudi oil giant Aramco announces world's largest IPO

2019-12-06 08:10:53Xinhua Editor : Mo Hong'e ECNS App Download

Saudi Oil Company Aramco has priced its initial public offering at $8.53 per share, making it the largest IPO ever, Arab News reported on Thursday.

At that level, Aramco has a market valuation of $1.7 trillion, overtaking Apple as the world's most valuable listed firm. 

The offering generated subscriptions of $106 billion by institutional investors and together with the total demand from individual investors, the order book hit $119 billion, the report highlighted.

The state-owned oil giant said it would retain the option of an even larger offering of a 3.45 billion share sale, worth $29.4 billion.


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