Smriti Srivastava
Global market is eagerly waiting for Saudi Aramco IPO (Initial Public Offering). This IPO is said to be the biggest initial public offering in history. The offering would give the company a valuation of $2 trillion- more than India's GDP. Major global stock exchanges will have to wait for next year before Aramco is ready to hit the market.
About the company
Saudi Aramco or Saudi Arabian Oil Company is a Saudi Arabian national petroleum and natural gas company based in Dhahran. It operates the world's largest single hydrocarbon network, the Master Gas System.
Details of the IPO
The Saudi government is planning to sell about 5% of Aramco in initial public offering and is targeted to raise up to $100 billion.
The IPO is expected to hit the market in early 2018. Completing the financial restructuring process to make the Aramco more luring to investors, could be a reason to offer it in the market next year. The company plans to offer its shares on Tadawul, the Saudi stock exchange. It is also being said that some international exchanges have also been taken into consideration by the company.
Major Global Stock Exchanges competing to list IPO
The Saudi government and their advisers desire to chose a foreign exchange or exchanges that can match regulatory requirements and listing of the company.
Reportedly, following foreign exchanges are in race to grab the $100 billion IPO: