Saudi Aramco raises $25.6bn in world's biggest share sale

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State-owned oil giant Saudi Aramco has raised a record $25.6bn (£19.4bn) in its initial public offering in Riyadh. The share sale was the biggest to date, surpassing that of China's Alibaba which raised $25bn in 2014 in New York. Aramco relied on domestic and regional investors to sell a 1.5% stake after lukewarm interest from abroad. The IPO will value it at $1.7tn when trading begins - short of its $2tn target, but making it the most valuable listed company in the world.


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