Saudi Aramco announces its long-awaited IPO

Pedro Gonçalves
clock • 2 min read

Saudi Aramco, the world's most profitable company has announced a long-awaited IPO on the Riyadh stock exchange as the kingdom hopes to achieve a $2trn valuation. Trading is expected to begin in December with reportedly somewhere between 2% and 5% of its shares being listed. The fact that it will be listed on the Tadawul, Saudi Arabia's domestic market is a blow to London, Hong Kong and New York who were all competing for the international stock market listing. The kingdom's market regulator approved the listing early Sunday but exact details surrounding the size and scope of the IPO ...

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