DUBAI : Saudi Aramco will allow investors to start bidding for shares in the world’s most-profitable company from Nov. 17. It left potential buyers in the dark about the size of the stake it plans to sell and the pricing range.
The Saudi stock exchange rules prohibits the oil giant from listing additional shares for six months after the start of trading, according to its more than 650-page prospectus. Also, the Saudi government, the company’s sole owner, won’t offer any additional shares during the 12-month period after listing, but retains the right to sell to foreign governments or investors affiliated with foreign governments.
