Saudi Aramco announces its long-awaited IPO

Pedro Gonçalves
Saudi Aramco announces its long-awaited IPO

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 regu...

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