Saudi Aramco Expected to Beat Apple as ‘Most Valuable Company’

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Oil giant Saudi Aramco recently had the world’s biggest IPO of US$25.6 billion. At that level it has a market valuation of US$1.7 trillion, beating Apple to become the world’s most valuable company.

Aramco did not say when shares would start trading on the Saudi stock market but two sources said it was scheduled for Dec. 11.

Saudi Arabia relied on domestic and regional investors to sell a 1.5% stake after lukewarm interest from abroad, even at the reduced valuation of $1.7 trillion.