Oil giant Saudi Aramco offers a second stock tranche worth billions
Saudi Aramco, formally known as the Saudi Arabian Oil Co., acknowledged the stock sale in a corporate disclosure online. It put the number of shares being offered at 1.545 billion, priced at between $7.12 and $7.73 a share. At the high range of the valuation, that would make the shares worth some $11.9 billion. They'll begin being sold on Sunday to institutional investors and on Monday to retail investors. Aramco has a market value of $1.8 trillion, making it the world’s sixth most valuable company behind Microsoft, Apple, NVIDIA, Google owner Alphabet and Amazon respectively. Weekly market re...