Saudi Aramco ends 'phoney war' with long awaited IPO

By Sam Kerr
04 Nov 2019

The IPO of Saudi Aramco has finally arrived, ending years of speculation over whether the world’s most profitable company would be listed. For investors, and equity capital markets as a whole, it ends feverish speculation over the company’s gargantuan valuation and allows funds to start crunching real numbers on potential dividends.

The intention to float document for the deal was released on Sunday, triggering the beginning of formal investor education.

The valuation that could be achieved is still wide open. Bankers working on the deal have confirmed that in early look meetings, analysts at the lead managers have been discussing ...

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