Saudi Aramco's record IPO starts November 17; offer size pending

Saudi Arabia is pulling out all the stops to ensure the success of the IPO after Crown Prince Mohammed bin Salman finally decided to offer shares in the world's largest oil producer

Saudi Aramco will allow investors to start bidding for shares in the world’s most-profitable company from Nov. 17. It left potential buyers in the dark about the size of the stake it plans to sell and the pricing range.

The Saudi stock exchange rules prohibits the oil giant from listing additional shares for six months after the start of trading, according to its more than 650-page prospectus. Also, the Saudi government, the company’s sole owner, won’t offer any additional shares during the 12-month period after listing, but retains the right to sell to foreign governments or investors affiliated with foreign