Saudi state oil company Saudi Aramco is going to value its shares at 7.23 to 7.72 euros each (30 to 32 riyal). The oil giant reports this in an update of the prospectus. The total value of Aramco thus comes to 1.5 trillion euros. A trillion is a 1 with 12 zeros, or a thousand billion.
The group brings a 1.5 percent interest on the stock exchange in the Saudi capital Riyadh. It is the world’s largest IPO ever.
Interested parties can register from this Sunday to buy Saudi Aramco shares. That registration runs until December 4. The final price for a share will be announced a day later.
The income from the IPO goes to a new investment fund. With this, crown prince Mohammed bin Salman wants to make the country less dependent on oil exports in 2030.
Saudi Aramco is the largest oil producer in the world and is also known as the most profitable company in the world. Last year it made almost 100 billion euros in profit.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com