The oil and gasoline firm had features of $111 billion final yr, way more than Apple, Royal Dutch Shell and Exxon Mobil put collectively.
But China, the world's top oil importer, may commit as much as $10 billion through sovereign wealth funds and other state-owned enterprises, Bloomberg News reported.
Saudi state oil giant Aramco will sell up to 0.5% of its shares to individual retail investors and will be restricted from issuing additional shares for a year after the initial public offering (IPO), its prospectus said on Saturday.
Trading on Saudi Arabia's domestic exchange could begin as soon as December 11, according to state-linked media.More news: France claim Fed Cup after decisive doubles win by Garcia and Mladenovic
Inspite of questions above Aramco's valuation and the way considerably of the company will in the end be on the market on Saudi Arabia's Tadawul stock commerce, the agency's dimension and profitability has manufactured it undeniably interesting to potential merchants.
The prospectus said the offering period will start on Sunday, November 17, ending on November 28 for individual investors and on December 4 for institutional investors. The Saudi government, anxious for the sale to succeed, has cut taxes on Aramco and revealed incentives for investors not to sell shares on.
Sources have told the Reuters news agency that Aramco could offer 1 percent to 2 percent of its shares, raising as much as $20bn to $40bn. The company reiterated plans to pay out an annual dividend of at least $75 billion starting in 2020 and signaled that increases as well as special dividends could follow over time. Crown Prince Mohammed bin Salman is seeking to raise billions of dollars to diversify the Saudi economy away from oil by investing in non-energy industries.
However, crude prices remain about $20 a barrel lower than what the government wants.More news: Dion Waiters Reportedly 'Overdosed' on Gummies on Team Plane, Misses Heat Game
The document listed a number of risks for prospective investors to consider, including how the company's cash flow is significantly impacted by global crude oil supply and demand and the price at which it is able to sell crude oil.
The Kingdom's government aims to show investors why it believes the Saudi Arabian Oil Co., known as Aramco, should be valued above its oil and gas peers.
The prospectus noted that the Saudi government ultimately decides the country's level of crude oil production.
The prospectus also laid out the main risks in the investment, including terrorism and operational instability.More news: Some in GOP Warn Against Election Challenge in Kentucky
Aramco's income also depends on the price of oil which has fluctuated sharply since mid-2014 from a monthly average of $112 a barrel in June 2014 to a monthly average of $31.9 a barrel in January 2016.