Deals
Aramco IPO Seen by Prince as Tonic for Saudis `Addicted' to Oil
- Aramco's valuation to exceed $2 trillion: Prince Mohammed
- Share sale could be world's largest initial public offering
Saudi Arabia's Hope for the Future in 'Vision 2030' Plan
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Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman said he expects the value of Saudi Arabian Oil Co. to exceed $2 trillion as the kingdom prepares to sell part of the company in what could be the world’s largest initial public offering.
The valuation of the oil producer known as Saudi Aramco hasn’t been completed, Prince Mohammed said in an interview with Saudi-owned Al Arabiya television. The government plans to turn Aramco into a holding company and will sell less than 5 percent of that entity, he said. Aramco units may be offered for sale at a second stage, he said.