Saudi Aramco’s record IPO starts November 17, prospectus says
Riyadh: Saudi Aramco’s much-anticipated initial public offering will begin on November 17, the company’s prospectus said, without revealing the size of the stake sale or the pricing range.
The 658-page document, released just before midnight Saturday, said the final share price will be determined on December 5 — a day after the subscriptions close — in what is expected to be the world’s biggest IPO.
After years of delays and false starts, Aramco officials last week announced a share sale on the Riyadh stock exchange for the world’s most profitable company, which pumps 10 per cent of the world’s oil.
