Aramco’s IPO values saudi oil giant at $1.7 trillion
In a press statement released on Sunday morning, Saudi oil giant Aramco announced that the company could be valued at around $1.7 trillion, below the target of $2 trillion by Crown Prince Mohammad Bin Salman. The company further added that it’s hoping to sell 3 billion shares which equates to about 1.5% stake of the company. The indicative price range for shares would be 30-32 Saudi Riyals.
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Iraq cuts oil exports to Asia
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