RIYADH/DUBAI (Reuters) – Saudi Aramco’s bookrunners have recommended the oil giant should price its initial public offering at 32 riyals (£6.65) per share, the top of an indicative price range, three sources familiar with the deal said, potentially making it the world’s biggest IPO.
A final pricing decision will be taken later on Wednesday, the sources said.
If the deal is priced at the top, Aramco’s IPO will exceed the $25 billion listing of China’s Alibaba Group Holding Ltd <BABA.N> in 2014, the world’s biggest flotation to date.
Aramco did not immediately respond to a Reuters request for comment.
(Reporting by Marwa Rashad, Hadeel Al Sayegh and Saeed Azhar; Editing by Susan Fenton)