Saudi Arabia's state oil company kick-started its initial public offering (...
DUBAI - Saudi Arabia’s state oil company kick-started its initial public offering 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.
It is a colossal public offering that could potentially generate more than 10 years’ worth of proceeds raised through IPOs in the country. Investor rule of law over Aramco is also weaker. A $75 billion dividend would therefore imply a valuation of well below $1.5 trillion, let alone $2 trillion.
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