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Saudi Arabia kick-starts IPO of world’s largest oil company

“The prospect of the world’s largest oil company selling a piece of itself has had Wall Street on tenterhooks since Prince Mohammed flagged it three years ago” writes Midwest Communications Inc for 95kqds.com. Although Prince Mohammed put a $2 trillion valuation on the company in early 2016, bankers and company insiders say Aramco’s value is closer to $1.5 trillion.DUBAI (Reuters) – Saudi Arabia’s state oil company kick-started its initial public offering (IPO) on Sunday, announcing its intention to list on the domestic bourse as the kingdom seeks to diversify and create the world’s most valuable listed company.Confirmation of the share sale in Saudi Arabian Oil Co, or Aramco, as the oil giant is usually known, comes about seven weeks after crippling attacks on its oil facilities, underlining Saudi Arabia’s determination to push on with the listing regardless.
 
Source: 95kqds.com



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