Aramco Reveals Its Valuation

Aramco will sell the first tranche of shares in its long-awaited initial public offering at a price of 30-32 riyals, ($8-8.52), which would give the company a total value of some $1.7 trillion, Reuters reports, citing company sources. The Aramco prospectus on the company’s website still has blanks in the per-share price range. As per the Reuters report, however, Aramco said it plans to list 1.5 percent of its shares on the Tadawul exchange, which translates into 3 billion shares at a total value of $25.6 billion (96 billion riyals). These…