Saudi Aramco to become world’s biggest listed company after raising over $25.5bn (5×5+5). 1. Big Money for the 2. Beast’s Big Projects and a 3. Big City named 4. Babylon. 5. NEOM.
Telegraph.co.uk. LaToya Harding 5 DECEMBER 2019
Saudi Aramco’s long-awaited initial public offering has been valued at the top of its targeted range, making it the biggest float of all time.
The state-controlled oil behemoth has raised over $25.5bn (£19.5bn), giving it a total market value of almost $1.8 (6+6+6) trillion, stealing the crown as the world’s most valuable listed company as it eclipses Apple’s $1.17 trillion market cap.
Although it fell short of the blockbuster $2 trillion valuation sought by Crown Prince Mohammed bin Salman, as he attempts to raise money for the kingdom and open it up to foreign investment, it still surpasses the $25bn (5×5)record set by Chinese internet giant Alibaba in 2014 (six (6) years ago).