Is Aramco Worth $2 Trillion and Other Crucial I.P.O. Questions

Saudi Aramco is undoubtedly huge and very profitable. But what’s the company worth? That question was one of many left unanswered Sunday when the company, the world’s dominant oil producer, announced it would sell a stake to investors, the International New York Times reported. Just about everything about the initial public offering remains to be determined in the coming days and weeks, including how large a portion Aramco will sell, and at what price. Most of the questions will revolve around decisions made by Crown Prince Mohammed bin Salman, the kingdom’s main policymaker. Aramco, which produces about one-tenth of the world’s oil output, is the centerpiece of the Saudi economy, and generates most of the government’s revenue. So far the prince is moving cautiously. He is seeking a listing only on Riyadh’s Tadawul stock exchange. Read more