It’s finally a go. After years of delays, Saudi Arabia’s oil giant Aramco—the world’s largest oil producer and the world’s most profitable company in any sector— announced on Sunday its intention to proceed with an initial public offering on the Saudi stock market. But Aramco still needs to clear one very important hurdle—its valuation. Saudi Aramco will issue the prospectus for the IPO later this week, on November 9, with the actual listing on the domestic Tadawul exchange expected to take place some time in December. The announcement of the intention to float is an important step forward for the company and the top Saudi leadership after years of delays of what would be the world’s largest IPO in history, but it is not the final leg of its journey. What this initial announcement didn’t announce was how much of its oil giant Saudi Arabia will list on its […]