ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Companies

Saudi Aramco plans record $25.6bn IPO, topping Alibaba

Crown prince concedes on $2tn valuation to fund economic reforms

Saudi Aramco would become the world's most valuable public company under share prices announced Nov. 17.   © Reuters

DUBAI, United Arab Emirates -- Saudi Aramco is looking to raise up to $25.6 billion in its initial public offering planned for December, overtaking the $25 billion record set by China's Alibaba Group Holding in 2014.

Officially known as Saudi Arabian Oil Co., the state-run petroleum and gas company announced Sunday that it plans to sell 1.5% of its shares for 30 to 32 Saudi riyal apiece on the Saudi Stock Exchange.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more