Bloomberg

Saudi Aramco raises $25.6 billion in world's biggest ipo

Aramco offered just 1.5% of its shares and opted for a local listing after global investors balked at its hopes of valuing the company at $2 trillion. Foto: AP/Hasan Jamali

Saudi Aramco raised $25.6 billion from the world's biggest initial public offering, closing a deal that became synonymous with the kingdom's controversial crown prince and his plans to reshape the nation.

The state-owned oil giant set the final price of its shares at 32 riyals ($8.53), valuing the world's most profitable company at $1.7 trillion. It received total bids of $119 billion...

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