Saudi Aramco, World's Most Profitable Company, Will Make First Public Offering
The oil company said it will sell an unspecified number of shares on a Saudi Arabian exchange. Its valuation could be $1.5 trillion, and it may be the world's biggest IPO.
The world's most profitable company will make its first public stock offering next month, in what could be the biggest IPO ever.
Saudi Aramco, the oil giant owned by the Saudi government, said on Sunday it will sell an unspecified number of shares, thought to be between 1% and 3% of the company. It did not specify a price range.
The company's initial offering will be on Saudi Arabia's Tadawul exchange. "We are proud of the listing of Aramco," said CEO and President Amin Nasser
