Saudi Aramco’s share offering likely valued between SAR 90-96 bln

Saudi Aramco, the world's largest oil exporter, will sell 1.5% stake, or 3 billion shares in its initial public offering (IPO).

The company has a paid-in capital of SAR 60 billion, divided into 200 billion ordinary shares without par value.

The giant oil producer set the IPO price range between SAR 30 - SAR 32 per share, so that the size of the offering will stand at SAR 90-96 billion ($24-25.6 billion). 

Saudi Aramco’s IPO will likely be the world’s largest offering, and is expected to exceed Alibaba's 2014 IPO worth $21.77 billion.

In Saudi Arabia, the state energy firm’s public offering is forecast to top National Commercial Bank’s (NCB) SAR 22.5 billion IPO in Oct. 2014.

The world's largest oil exporter launched today, Nov. 17 its IPO for retail and institutional investors. The retail offering will close on Nov. 28, while the deadline to submit bid forms for institutional investors is set for December 4. Retail investors will have to bid at the top end of the price range (SAR 32 per share). 

For more details about Saudi Aramco IPO