Saudi Aramco Expects to Fetch $2 Trillion in IPO

Saudi Arabia confirmed on Monday that it planned to sell a stake of its state oil giant Saudi Aramco which was expected to be valued at more than $2 trillion.

The sale would be less than 5 percent of the company and would be via an initial public offering (IPO), Deputy Crown Prince Mohammed bin Salman said in a television interview with the Al Arabiya News Channel.

He also said there were plans for Aramco, or to give it its full name Arabian American Oil Company, to be transformed into a holding company with an elected board, according to Reuters, with subsidiaries of the firm also to be sold by IPO.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza