BREAKING NEWS

Saudi Aramco's bookrunners recommend IPO should be priced at top end - sources

Saudi Aramco's bookrunners recommend IPO should be priced at top end - sources
FILE PHOTO: The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed -
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Hamad I Mohammed(Reuters)
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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)

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