IPO of world's largest oil company Saudi Aramco to open on November 17, price not yet decided.

IPO of world's largest oil company Saudi Aramco to open on November 17, price not yet decided.

Saudi Aramco is the most profitable company in the world. This company alone meets 10 percent of the world's crude oil needs

The much awaited initial public offering (IPO) of Saudi Aramco will open on 17 November. This information has been obtained from the documents submitted by the company. However, nothing has been said about the size or price range of stake sale. The 658-page document of the company was released on Saturday midnight. It is considered to be the world's largest IPO. The final share price will be decided on 5 December after the subscription for the IPO ceases.

After several years of delay Aramco officials announced the sale of shares on the Riyadh Stock Exchange last week. Saudi Aramco is the world's most profitable company. This company alone meets 10 percent of the world's crude oil needs.

 Retail investors will sell 0.5% shares

The documents said that the public sector giant would sell 0.5 percent of the shares to individual investors. However, the company has not fixed a percentage of the share for sale to large institutional investors. Potential risks are also mentioned in the documents. These include concerns about terrorist attacks, anti-trust laws, and climate change, which may reduce hydrocarbon demand globally.

Saudi Aramco's valuation is 50 percent higher than Apple and Microsoft

However, at the beginning of 2016, Crown Prince Mohammed bin Salman had said the valuation of the company to be $ 2 trillion. But, several reports quoted Bankers and Company Insider as saying that Saudi Aramco's valuation is close to $ 1.5 trillion. At this price, Aramco is a 50 percent higher valuation company than the highest valuation companies worldwide. Currently, companies like Microsoft and Apple Inc. have a market value of close to $ 1 trillion.