Energy

Saudi Aramco stock could price at volatile time for the oil market

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The initial public offering of Saudi Arabia’s big oil company could be priced right in the middle of what could be a volatile period for oil.

Saudi Aramco intends to price its IPO on Dec. 5, the same day OPEC begins its regular two-day meeting in Vienna. The Aramco stock, equal to 0.5% of the company, is expected to trade on the Saudi Tadawul Exchange several days later, and market talk has focused on Saudi Arabia’s desire for higher and steadier prices.

Saudi Arabia Crown Prince Mohammed bin Salman has been looking for a $2 trillion value for Aramco, but bankers have said it is worth more like $1.5 trillion. Aramco said the company is worth $1.5 trillion at an oil price of $45; $1.76…



Source cnbc.com

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