Saudi Aramco Ipo News

'Saudi Aramco is the largest, most profitable oil company in the world — but size is not everything,' said analystAramco, whose shares gained the maximum 10% allowed by the Riyadh exchange on their first day of trading, hit 38.7 riyals ($10.32) on Thursday

Saudi Aramco set the final price of its shares at 32 riyals ($8.53), valuing the world’s most profitable company at $1.7 trillionSaudi Aramco received total bids of $119 billion

Aramco plans to sell 1.5% of the company, giving it a potential market value of as much as $1.7 trillionSaudi Arabian Monetary Authority governor Ahmed al-Kholifey said he had no concerns about liquidity due to the size of Aramco's IPO

The Beijing-based Silk Road Fund is among parties that have been in discussions to buy stock in the offeringXi Jinping has been seeking to increase China’s political clout and revive ancient trading routes under his 'One Belt, One Road' initiative

The approval shall be valid for six monthsAramco, which pumps about 10% of the world’s oil, generated the most profit of any corporation last year with net income of $111 billion

Saudi Aramco is the most profitable company globallyThe valuation will probably be closer to $1.5 trillion, according to media reports

Aramco invites over 20 advisory firms from around the world to compete for a role on the IPO that’s planned for as early as 2020While Aramco has yet to make a decision on a listing destination, top officials from the exchanges in London, New York and and Hong Kong have been pitching the oil giant in recent weeks

Saudi Aramco is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects, says CEO Amin Nasser

Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp.

Like Tesla CEO Elon Musk's $420-a-share take-private tweet, the whole concept of the Aramco IPO was far too premature