An oil tank is seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. Saudi Arabia expects state oil company Saudi Aramco [SDABO.UL] to be valued at more than $2 trillion and plans to sell less than 5 percent of it through an initial public offering (IPO), Deputy Crown Prince Mohammed bin Salman said on Monday. He said in a television interview that he wanted it to be transformed into a holding company with an elected board. Subsidiaries of the company would also be sold in IPOs as part of a privatization drive and to bring more transparency to the oil giant, Prince Mohammed said. “If 1 percent of Aramco is offered to the market, just 1 percent, it will be the biggest IPO on earth,” he said. Prince Mohammed added that he did not expect oil prices to fall below $30 a […]