Aramco’s $1.7 trln price tag pleases almost no one
Amin H. Nasser, president and CEO of Aramco, and Yasser al-Rumayyan, Saudi Aramco's chairman, attend a news conference at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019.
Source: REUTERS/Hamad I Mohammed
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The Saudi oil giant will offer shares below the $2 trln valuation originally sought by the kingdom’s crown prince. But selling just a 1.5% slice implies the price range is still too rich for foreign investors. The mega-IPO is moving closer towards being a largely domestic affair.
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