Saudi state oil behemoth Aramco just launched its initial public offering. This is expected to be the world’s biggest share sale ever, and the stock is set to list on Riyadh’s Tadawul stock exchange.
Aramco’s valuation is one of the biggest questions surrounding its IPO. Saudi Crown Prince Mohammed bin Salman pegged the company at $2 trillion, but Aramco and its bankers are reportedly aiming for a base valuation of roughly $1.7 trillion.
It has also promised to pay investors a $75 billion dividend starting in 2020, running through 2024.
Last year, Aramco recorded net income of $111 billion, which makes it the most profitable company in the world. That figure is actually more than Apple’s (AAPL - Free Report) and Exxon Mobil’s (XOM - Free Report) total returns last year, notes The Wall Street Journal.
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