(Bloomberg) — Saudi Arabia put a preliminary valuation on its state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion, short of the $2 trillion target set by Crown Prince Mohammed bin Salman in 2016.Aramco is seeking as much as $25.6 billion by selling a 1.5% stake. The company would raise $24 billion if the deal prices at the lower end — just shy of the $25 billion raised by Alibaba Group Holding Ltd. — currently the world’s largest IPO. With one third of the deal reserved for Saudi retail investors, Aramco will rely heavily on the local market.Price …read more
Source:: Yahoo Finance
