Oil giant Saudi Aramco is reportedly considering offering shares to citizens of Saudi Arabia as it prepares for an initial public offering (IPO) that could be the biggest the world has ever seen, Oil Price wrote.
The oil company has discussed methods to structure the sale so that retail investors in Saudi Arabia can buy shares for less than those bought for international exchanges, as Bloomberg informed.
The company looks to sell its shares as part of plans by Deputy Crown Prince, Mohammed bin Salman, to set up the world’s biggest sovereign wealth fund and reduce the economy’s reliance on hydrocarbons.
A final decision on the share pricing has not been made yet, however, Aramco could be valued at more than $2t in the sale.
In previous news, US based boutique investment bank, Moelis & Co, was recently chosen as the sole independent adviser for the planned IPO, as reported by Financial Times.