Business
The Prince Got His World-Beating IPO. Now Hard Work Begins
- Saudi Aramco overtakes Microsoft, Apple as biggest listed firm
- Aramco raised $25.6 billion in IPO valuing it at $1.7 trillion
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Saudi Aramco’s world-beating initial public offering is a watershed moment for a business that’s bankrolled the kingdom and its rulers for decades. The world’s largest public company will now trade in Riyadh and not New York.
Less clear is how far it will help overhaul the economy of the world’s biggest oil exporter.