TNPSC Thervupettagam

Saudi Aramco – Biggest IPO

November 3 , 2019 1849 days 1828 0
  • Saudi Arabia’s giant state-owned oil company finally kick-started its initial public offering (IPO).
  • The company is valued around 1.5 trillion dollars and it aims to raise $20 billion-$40 billion.
  • The IPO is designed to turbo-charge economic reforms in Saudi by raising billions to build non-energy industries and diversify revenue streams.
  • The record for largest ever money raised through is held by China’s e-commerce giant Alibaba (USD 25 billion in New York, 2014).

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