December 4, 2019 / 2:51 PM / 6 days ago

Saudi Aramco's bookrunners recommend IPO should be priced at top end-sources

RIYADH/DUBAI, Dec 4 (Reuters) - Saudi Aramco’s bookrunners have recommended the oil giant should price its initial public offering at 32 riyals ($8.5) per share, the top of an indicative price range, three sources familiar with the deal said, potentially making it the world’s biggest IPO.

A final pricing decision will be taken later on Wednesday, the sources said.

If the deal is priced at the top, Aramco’s IPO will exceed the $25 billion listing of China’s Alibaba Group Holding Ltd in 2014, the world’s biggest flotation to date.

Aramco did not immediately respond to a Reuters request for comment. (Reporting by Marwa Rashad, Hadeel Al Sayegh and Saeed Azhar; Editing by Susan Fenton)

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