Saudi Arabia kicks off IPO of world's largest oil company

  • 5 years ago
Saudi Aramco kicked off its initial public offering on what could be the world's largest-ever IPO.
Saudi Arabia's state-owned oil giant made the big announcement that "the final offer price, number of shares to be sold and percentage of the shares to be sold will be determined at the end of the book-building period."
Analysts say the world's largest integrated oil and gas company is expected to make one or two percent of shares available.
Saudi Aramco is thought to be worth at least around 1-point-2 trillion U.S. dollars,...making it the most valuable company in the world.