OSAKA, Japan--(BUSINESS WIRE)--Hokkaido Securities Holdings has commented on Saudi Aramco, a Saudi Arabian national petroleum and natural gas company situated in Dhahran, Saudi Arabia. According to Bloomberg it has been noted to be one of the largest companies in the world by its revenue.
Analysts from Hokkaido Securities Holdings have noted that just under a quarter of its institutional portion from the company’s initial public offering went to foreign investors.
Following the largest IPO in history, Saudi Aramco’s shares are due to be listed and will commence trading on the Saudi Stock Exchange tomorrow. Saudi Aramco stated that the concluding offer price for the offering at $8.53 USD, surpassing $25 Billion USD IPO of Alibaba which listed on the New York Stock Exchange in 2014.
“With the company gaining a lot of interest right now, we should see prices rally higher tomorrow” Commented Kawasaki Toru, Equity Research Analysts from Hokkaido Securities Holdings.
At the beginning of its book-building process, Saudi Aramco had initially set up an indicative price range between 30 to 32 Saudi Riyals ($8.00 - $8.53 USD), with the final pricing of its higher-end it will translate into a valuation around $1.7 trillion USD.
With its first session of trading due tomorrow on the Saudi Stock Exchange, Saudi Aramco will overtake companies such as Apple and Microsoft, the $1.7 trillion USD valuation means that it is worth more than Exxon Mobil, Total, Chevron, Royal Dutch Shell and BP combined.
About Hokkaido Securities Holdings
Hokkaido Securities Holdings is a private wealth management company situated in Osaka, Japan. Founded in 2012, the company provides financial services to both retail and corporate clients.