Aramco debuts with IPO of up to $2 trillion

Saudi Arabia’s state giant Aramco finally initiated its initial public offering of shares (IPO) and revealed its intention to operating on the Stock Exchange, which may be the largest ipo in the world.

The IPO is estimated to move $100 billion, or potential to be almost five times higher than the largest IPO in history so far, which was that of Chinese e-commerce giant Alibaba.

However, Aramco did not reveal details about the number of shares to be sold, price or release date. The bankers told the saudi government that investors would likely evaluate the company in about of $1.5 trillion. Already some sources told Reuters that the company oil could offer 1% to 2% of its shares on the local stock exchange, raising between US$ 20 billion and US$ 40 billion.

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