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Saudi Aramco's bookrunners recommend IPO should be priced at top end
[RIYADH] Saudi Aramco's bookrunners have recommended the oil giant should price its initial public offering at 32 riyals (S$11.6) per share, the top of an indicative price range, three sources familiar with the deal said, potentially making it the world's biggest IPO.
A final pricing decision will be taken later on Wednesday, the sources said.
If the deal is priced at the top, Aramco's IPO will exceed the US$25 billion listing of China's Alibaba Group Holding Ltd in 2014, the world's biggest flotation to date.
Aramco did not immediately respond to a Reuters request for comment.