Saudi Arabia has sharply scaled back the initial public offering of its state oil giant after international investors gave its ambitious plans a lukewarm response.
The kingdom revealed on Sunday that it will seek to raise between $24-$25.6bn from the listing of Saudi Aramco, a fraction of the $100bn it had once hoped for.
Aramco will float just 1.5 per cent of its total shares to investors at price that will value the company at between $1.6tn-$1.7tn. This would still make it the largest listed company in the world — overtaking Apple — but it falls far short of the $2tn valuation sought by Crown Prince Mohammed bin Salman, the kingdom’s heir apparent.
您已閱讀21%（657字），剩餘79%（2437字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。