Will Aramco deliver world record profit for IPO in 2018?

London

WHEN oil giant Saudi Aramco discloses its financials for the first time next year, it must either surprise investors with world record profits or reduce its aspirations for a US$2 trillion valuation in its initial public offering (IPO).

Investors have long debated whether Aramco could be valued anywhere close to US$2 trillion, the figure suggested by Saudi Crown Prince Mohammed bin Salman, who wants to raise cash through the IPO to finance investments aimed at helping wean the world's biggest oil exporting nation off dependency on crude.