The largest primary offering of public shares in the history is approaching
Saudi Aramco – mining company of Saudi Arabia is seeking for its potential investors. Yet, the company focuses only on Persian Gulf countries.
The newest deal of Saudi Aramco representatives is Abu Dhabi (ADIA – Abu Dhabi Investment Authority) investment fund owned by the state. According to Reuters, ADIA will invest to Saudi Aramco shares a billion of dollar if the agreement is reached. Other resources even mention investments between $1,5 and $2 billion.
Saudi Aramco is slowly concluding its marketing negotiations during which it aimed to motivate investors to join the primary offering of public shares. The event should take place in the first half of December. While the company focused on global investors right after confirming its IPO date, now it focuses only on Persian Gulf countries.
The largest global company intends to offer only about 1,5 % of its shares, which should bring about $25 billion according to some estimations. It this fulfils, it’ll be the largest IPO in the history. It should even surpass the stock exchange entry of China’s ecommerce company Alibaba with its shares value of $24 billion.