Equities

Reuters reveals Saudi Aramco valuation gap persists as IPO talks resume

Reuters reveals Saudi Aramco valuation gap persists as IPO talks resume

Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, Reuters revealed in an exclusive report. Aramco has resumed talks with investment banks about an IPO and its board is set to meet later this week, a Reuters source said, adding discussions over the company’s value were likely to be held. Even at the lower end of estimated valuations, an Aramco IPO would create the world’s largest public company.