Announcing the development on November 3, Saudi Aramco said that the offer period will run from November 17 to December 4, and the IPO would be priced on December 5. The pricing was duly announced at the top of its indicative range, at SR32 ($8.53) per share. The total of $25.6 billion exceeds the $25 billion flotation of e-commerce colossus Alibaba in 2014, previously the biggest in history, but is nonetheless lower than some analysts had anticipated. While there was some international interest in the offering, Saudi Aramco principally relied on domestic and regional investors. The shares are expected to begin trading on the Tadawul as soon as December 11 . Aramco is seen as the most profitable company in the world by some distance. According to Fortune’s Global 500 2019 listing, the oil company announced profits of around $111 billion in 2018. In recent months estimates of its […]