Saudi Arabia’s state-owned oil giant Aramco announced Sunday it will sell a 1.5% stake in the company as it looks to raise as much as $25.6 billion from the sale, potentially becoming the most-valuable initial public offering in history.
The newly released figures also revealed a valuation for the company that’s between $1.6 trillion and $1.7 trillion, a figure that fell short of the $2 trillion mark Crown Prince
Mohammed bin Salman had sought.
Saudi Aramco announced it will have 200 billion regular shares, selling 1.5% or what is 3 billion shares.