Aramco will hit $2trln valuation soon after float: Energy Minister

  • Dec 07, 2019
  • Zawya

RIYADH —Saudi Aramco may float on the stock market at a valuation below the $2 trillion the Kingdom initially targeted, but it will soon rise above that level on the open market Energy Minister Prince Abdulaziz Bin Salman predicted on Friday.

The state oil company is expected to start trading for the first time on Wednesday at a valuation of $1.7 trillion, making it the most valuable company in the world.

Speaking to journalists after a meeting of the OPEC oil exporters’ club in Vienna, Prince Abdulaziz said this week’s milestone pricing was a “proud day for all of us.”