Saudi Aramco valuation in bank research may vary by more than $1 trillion
Valuations for Saudi Aramco vary by more than $1 trillion (£774 billion), according to fund managers who have seen banks’ research, underscoring the uncertainty hanging over what could be the world’s largest stock market listing.
Fund managers are poring over bank research after Aramco on Sunday announced its intention to float on the Riyadh stock market.
Sources have told Reuters that Aramco could offer 1%-2% of its shares, raising as much as $20 billion to $40 billion. A deal over $25 billion would top the record-breaking IPO of Chinese e-commerce giant Alibaba in 2014.
On Sunday, however, Aramco provided no size of the planned IPO, no timeframe, identified no cornerstone investors and gave no information on an expected follow-up listing overseas.
Saudi Crown Prince Mohammed bin Salman has spoken of a $2 trillion value target for the world’s largest oil producer while banks have provided varying figures.
