Saudi Aramco, the world’s largest oil company, offered more details on the enormous share offering it is planning for December, setting an overall market value of the company of as much as $1.7 trillion, a figure short of the $2 trillion initially estimated by Crown Prince Mohammed bin Salman. Still, the company could raise close to $26 billion when it offers shares to the public, a total that could make it the largest initial public offering ever. That would set the value of the company between $1.6 trillion and $1.7 trillion. Aramco said that it would publish the final price on Dec. 5. Trading on the Riyadh stock market, the Tadawul, is expected to commence around Dec. 12.

Source: International New York Times November 17, 2019 09:56 UTC