If Saudi Aramco were to become a holding company with 5% or so of its… Saudi Arabian Oil Co.: A company that enriched its private investors for decades through what was called a “golden gimmick” beckons to foreign capital once again. That foreshadows how tantalizing, yet complicated, an investment in what is known as Saudi Aramco may be. If the national oil champion were to become a holding company with 5% or so of its shares listed on the stock market, it would be too large for investors to ignore. Based on what Saudi Arabia’s Prince Mohammed bin Salman estimated to be a potential market value of $2 trillion to $2.5 trillion, just its proposed float would be larger than supermajor BP BP -1.12 % or as valuable as ConocoPhillips COP -2.83 % and Italy’s ENI E 0.38 % combined. But a proposed initial public offering of the company […]