Saudi Arabia's Aramco raises $25.6 Billion after the launch of its IPO
Image Credit: Shortpedia
Saudi Arabia's state oil company Aramco launched its initial stock offering on Thursday, pricing at the high end of the target range. The company raised $25.6 billion through its IPO. It became the largest ever IPO after surpassing the Chinese online trading group Alibaba that raised $25 billion after its debut on Wall Street in 2014. Aramco will begin trading 3 billion shares on the country's Tadawul stock exchange on December 12.