Saudi Giant Aramco is knocking door in the Stock Exchange

Saudi Giant Aramco in the Stock Exchange

Saudi giant Aramco is knocking door in the Stock Exchange. From the authority of Aramco it is confirmed that the giant Oil company will issue first phase of its 2% share issuance in December,2019. In the year 2020 the company is expecting to issue more 3% share in the Riyadh Stock Exchange. By issuing 5% of the total share in the stock exchange the Govt is expecting to collect $100000 billion from the market. Saudi Government will issue the Aramco Share in the NYSE, London Stock Exchange, Tokyo Stock Exchange & in Hong Kong gradually

The IPO of Aramco will be the biggest in the world stock exchange history after Alibaba. The net worth of Aramco is $2 Trillion which was established in the year 1933 by Saudi Arabia in association with California standard oil company. The total reserve of Aramco is 261 billion barrel oil. Which is the second in the oil industry.