This archive report was first published on 6 December 2019.
Published on December 6, 2019, Saudi Aramco is poised to make history with its massive Initial Public Offering (IPO), aiming to raise $25.6 billion (KSh2.6 Trillion).
The oil giant's valuation of $1.7 trillion comfortably overtakes Apple as the world's most valuable listed firm, with Apple valued at $1.17 trillion.
As reported by The Guardian, Aramco plans to list just 1.5% of the company on the local Tadawul stock exchange, targeting investors in Saudi Arabia and the Middle East.
With a monopoly in Saudi Arabia, Aramco produces over 10 million barrels of crude oil a day and is the world's largest exporter of crude oil.
