Here’s how Indians can invest in Saudi Aramco, the world’s biggest IPO
The state-owned oil giant Saudi Aramco announced on Nov 3 that it will be floating its IPO on the Riyadh stock market. This is more than three years after Crown Prince Mohammed bin Salman first raised the idea to offer shares in the world’s largest oil producer.
Aramco will mainly rely on local demand — one third of the offering is reserved for Saudi retail investors. They could offer 1-2% of its shares on the local bourse, raising as much as $20-40 billion.
Since 2016, the company is targeting a $2 trillion valuation — more than twice that of Apple. But on Sunday, Saudi Arabia put a valuation on Aramco of between $1.6 trillion and $1.71 trillion.
