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Saudi arabia's oil power, Aramco is planning a giant initial public offering on November

the Saudi Arabian state oil company Aramco plans to start the ipo of its 17. November. The giant oil company confirmed earlier this month for a long time churning the rumor and told the listing its the Riyadh stock exchange. The ipo is scheduled to continue to early December days.

Saudi Arabia's planned oil I'll leave the listing for a long time as part of the country of income source diversification. Aramco produces approximately ten percent of the world's oil.

Aramcon the ipo forecast to be the world's largest. The company's value is the bracket made of 1.5–2 trillion dollars. One trillion is a thousand billion.

the Company reported the sale of its shares not exceeding 0.5 per cent to private investors, other investors trimmed the proportion is still under consideration. Offering size or price of the shares has not yet been defined, but Aramcon is entrusted with the listing of the two percent share of the company.

Already two per cent stake would make the ipo the world's largest, it already brings a contribution to the company's value should be more than 30 billion dollars.

day momentum is 12 million barrels

Aramco is also the world's support the most beneficial company. Its net profit was the beginning of this year until the end of September $ 68 billion. The company's last year profit was 111 billion dollars, which is more than Apple, Google and Exxon mobile's total income.

Aramcon oil production disrupted in September the company's two production facilities made to the drone strikes, with Saudi Arabia and the united states have accused Iran. The oil giant told reporters after the attacks, that production declined about 5.7 million barrels per day. Normal day rate is for 12 million barrels


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