Saudi Aramco's epic IPO opens on November 17

(PTI) Riyadh, Tal. November 11, 2019, Monday

The long-awaited Saudi Aramco IPO, which has been waiting for a long time, will be open on November 17 and the IPO will be open until December 4. The stock price will be decided on December 5. Aramco's IPO prospectus was issued on Saturday. This IPO is considered to be the largest IPO in the world.

After years of delay, the date of this IPO has been announced. The Riyadh Stock Exchange will be listing the shares of Aramco. Aramco is considered the most profitable company in the world.

According to sources, only 0.5% of the company's total shares will be allocated to retail investors. It is not yet decided what percentage of the shares will be allocated to institutional investors. It is worth mentioning that Aramco made a net profit of $ 111.1 billion last year. For the first nine months of this year, the company's profit fell 18 percent to $ 68.2 billion.