(Shutterstock)Saudi Aramco is worth up to $1.7 trillion at the IPO price range set by the oil giant on Sunday, below the $2 trillion targeted by Saudi’s crown prince but still vying for the title of the world’s biggest IPO. The IPO size could be bigger if they use a 15 per cent over-allotment option, known as a “greenshoe” option. This could just beat Chinese e-commerce giant Alibaba’s record $25-billion New York stock market debut in 2014. Aramco kicked off its IPO on November 3 after a series of false starts. Aramco is yet to name any cornerstone investor or disclose the listing date.

Source: The Telegraph November 17, 2019 22:52 UTC