Aramco Launches Possibly Largest IPO in Financial Markets History
November 4, 2019 – Saudi Aramco launched its long-anticipated initial public offering (IPO) on Saudi Arabia’s stock exchange market, Tadawul, on Sunday. With the company’s estimated $2 trillion value, the IPO is expected to be one of the largest on record in terms of valuation. The company is expecting to sell shares starting mid-December in only the local market before expanding into an international IPO. Although large Saudi investment companies that are already active in Tadawul are potential investors, international firms, given that they meet the Capital Markets Authority’s requirements for foreign investment in Tadawul, are also able to partake in the IPO. Saudi nationals as well as non-Saudi individuals that reside in Saudi Arabia, or any GCC country, are also eligible to buy and trade shares. As of now, the value of the company, price of shares, and percentage of national and international investors are yet to be decided.