Aramco IPO listed at $1.7 T

Saudi Arabia

Houston runs on oil, the saying goes, so there is special interest in Saudi Arabia’s play in the global oil and financial markets this week.

Saudi oil company Aramco is getting the go-ahead for a stock listing potentially worth 1.7-trillion-dollars.

State news in Saudi Arabia says an oil markets regulator has issued its resolution approving Aramco's application for the registration and offering of part of its shares.

The IPO would be the world's biggest ever.

The report said Aramco would release the prospectus for its listing on November 10th.

The sale could value the company up to 1.7-trillion dollars, and would raise billions of dollars for the Saudi kingdom.

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