The hottest Saudi oil giant announced an IPO guida

2022-09-24
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Saudi oil giant announces IPO guidance price valuation of US $1.7 trillion

Sinochem news Saudi Arabia National Oil Company (Saudi Aramco) announced its initial public offering (IPO) guidance price on the 17th, which is expected to raise more than US $24billion, and the company's valuation is expected to be between us $1.6 trillion and US $1.7 trillion

Saudi Aramco issued a statement on the same day that the guidance price range of the IPO is 30 to 32 Saudi Riyals per share (about $8 to $8.53), and it is expected to issue 1.5% of the company's total shares on the Saudi stock exchange, that is, about 3billion shares of its 20billion common shares. Based on this calculation, the company will raise $24billion to $25.6 billion from its IPO

according to the latest prospectus, the subscription date for institutional investors is November 17 to December 4, and the subscription date for individual investors is November 17 to November 28. Saudi Aramco will issue the final stock quotation on December 5

in order to reduce dependence on the oil economy, the task of energy conservation and pollution prevention in the sand plastic granulator process is particularly urgent. In 2016, an economic reform plan of "vision 2030" was formulated, in which the IPO of Saudi Aramco, its national oil company, is an important step

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