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IS - Aramco IPO pared back to sell 1.5% of its shares for $25.6B - November 2019
Bankers who met Nov. 16 with Yasir al-Rumayyan, Saudi Aramco’s chairman and head of the country’s sovereign wealth fund, did not have good news for him. They traveled to Riyadh to tell him that international investors would not buy shares in the company’s initial public offering anywhere close to the $2 trillion valuation that it and Crown Prince Mohammed bin Salman had been pushing for over three years. They proposed instead to value an......
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