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Image Credit: Shortpedia

Saudi Arabia's Aramco raises $25.6 Billion after the launch of its IPO

Shortpedia

Content Team

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.