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Ever since the plans for listing a 5% stake of prized state oil giant Saudi Aramco were announced last year, it has repeatedly been heralded as the soon-to-be world’s largest IPO.
Slated for issuance in late-2018, Saudi Arabia’s Deputy Crown Prince Muhammad bin Salman, who is the key driver behind the much-vaunted Vision 2030 economic diversification plan, has estimated Aramco’s value at $2 trillion.
This means its IPO would raise around $100bn, dwarfing the $25bn secured by Chinese internet retailer Alibaba in the world’s largest IPO in 2014.
Furthermore, at $2 trillion, Aramco would immediately become the world’s largest quoted company, not just taking a bite out of current number one Apple, but swallowing up its $800bn valuation more than twice over.
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