On the Eve of the Saudi Aramco IPO, Talk of a $2 Trillion Valuation Gains Momentum. Skeptics Aren’t Buying It

Dec 10, 2019 - Fortune
IPOs

Saudi Energy Minister Prince Abdulaziz bin Salman is confident that Saudi Aramco will achieve its longheld goal of scoring a $2 trillion valuation. It might not be tomorrow, when shares are scheduled to begin trading on Saudi Arabia’s Tadawul stock exchange. But give it a few months, he says, and Aramco will hit that high (and highly symbolic) level.

Zachary Cefaratti, chief executive of Dalma Capital, one of the three Dubai-based funds that bought shares in the Aramco IPO, is even more ...