Morgan Stanley values Saudi Aramco at $1trn

Saudi Aramco has been given a $1trn valuation by Morgan Stanley, as Wall Street is still divided on how much the world's biggest oil company is actually worth. Aramco has been given a valuation range spanning hundreds of billions of dollars, according to research from two Wall Street banks that underlines the dilemma facing lenders working on what is expected to be the world's largest initial public offering. In a presentation for investors, Morgan Stanley bankers ran through several valuation models that gave a spread of about $1trn between the most bearish and bullish scenarios. For...