Saudi Aramco’s IPO has been a focal point of the industry for years. After many delays, book-building has finally begun, but banks cannot seem to agree on a valuation for the world’s biggest oil company, Bloomberg reported.
Crown Prince Mohammed bin Salman places Aramco’s valuation at $2trn, but 16 banks which determined valuation figures for Aramco did not come to a consensus; valuations ranged from $1.1trn to $2.5trn.
According to people close to the listing, the crown prince is willing to accept a valuation betwen $1.6trn and $1.8trn. The average valuation from banks was $1.75trn.
