Saudi Aramco declares $1.71T valuation!

The disinvestment in Saudi Aramco has positioned it as the world's biggest initial public offering.

• Energy giant scales down initial plan to sell up to 5% of the company.

Saudi oil giant Aramco is worth up to $1.7 trillion at the SR30-SR32 price range set by the company on Sunday ahead of the listing of the world's biggest IPO by middle of next month.

The latest estimate is well below the $2 trillion sought by Saudi Crown Prince Mohammed bin Salman, but positions the disinvestment as the world's biggest initial public offering.
Aramco said it plans to sell 1.5 per cent of the company, or about three billion shares, at an indicative price range of SR30 to SR32, valuing the IPO at as much as $25.6 billion and giving the company a potential market value of between $1.6 trillion and $1.7 trillion.