Saudi Arabia is reportedly trying to get the Kingdom’s billionaires to buy stock in Aramco’s mega-IPO | Markets Insider
▻https://markets.businessinsider.com/news/stocks/saudi-aramco-ipo-kingdom-negotiating-participation-from-bil
Saudi Arabia is trying to get the country’s wealthiest citizens to buy stock in Aramco’s upcoming IPO, according to Bloomberg.
The group reportedly includes the likes of the billionaire Olayan family, which is considering the purchase of several hundred million dollars of stock.
Aramco’s IPO is expected to be the biggest in history, with Saudi officials seeking a valuation of $2 trillion, although bank estimates have come in lower.
The oil giant is due to go public on December 11.