Aramco IPO expected to transform global stock market
Saudi Arabia could raise US$75b with sale of 5% stake, with Aramco valued at US$1.5t; more state assets to be sold
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Dubai
MONEY managers in the Middle East are confident the sale of government-owned Saudi Arabian Oil Co this year will shake up the global stock market with a record initial public offering that gives the world's biggest company a valuation of about US$1.5 trillion.
"People focus on Aramco as being the key thing," said Salman Bajwa, chief executive officer of Dubai-based Emirates NBD Asset Management, which has US$4.8 billion of assets.
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