Saudi Aramco short of $2trn valuation in new IPO range

Pedro Gonçalves
clock • 2 min read

Saudi Arabia has scaled back the initial public offering of its state oil company after international investors gave its ambitious plans a lukewarm response. Saudi Aramco could be valued at up to $1.7trn, according to a price range announced for its upcoming listing. The state-owned oil and gas firm had been expected to seek $2trn market value through the listing. That was a sum sought by the Gulf state's crown prince, Mohammed bin Salman. Saudi Aramco is targeting a price range of 3...

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