Saudi Aramco’s bookrunners say IPO should be priced at top end: sources

RIYADH/DUBAI: Saudi Aramco’s bookrunners have recommended the oil giant should price its initial public offering at 32 riyals (RM35.54) per share, the top of an indicative price range, three sources familiar with the deal said, potentially making it the world’s biggest IPO.

A final pricing decision will be taken later on Dec 4, the sources said.

If the deal is priced at the top, Aramco’s IPO will exceed the US$25 bil listing of China’s Alibaba Group Holding Ltd in 2014, the world’s biggest flotation to date.

Aramco did not immediately respond to a request for comment. – Reuters

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