Saudi Aramco, the largest oil and gas company in the world, was valued at approximately $1.7 trillion. It is such a general capitalization that the corporation should have after listing.
During the first stage of the IPO, 1.5% of the shares were placed on the Tadawul stock exchange, their price ranged from 8 to 8.5 US dollars. Upon completion of the listing process, Saudi Aramco will become the largest public company in the world. Now, this title is owned by Apple, as of the time of writing, its total value is 1.18 trillion US dollars.
Recall that the current government of Saudi Arabia approved the IPO Saudi Aramco earlier this month, but the company has been moving towards this for more than a year. The largest banks in the world helped in this matter: Citigroup, Goldman Sachs, and JPMorgan.
In order to interest potential investors, Saudi Aramco wants to pay dividends to shareholders in the amount of 75 billion US dollars next year. Important to note is that the company said they were not going to reduce this figure until 2024, regardless of the situation with the price of oil.
The final volume of the placement of securities of the company should be announced very soon, December 5, 2019.