Saudi Arabian Oil Co. (Saudi Aramco) is targeting a valuation between $1.6 trillion and $1.7 trillion for its initial public offering and a price of 30-32 Saudi riyals ($8-8.50) per share, the company announced Nov. 17, Bloomberg reported. In addition, the firm has canceled a marketing roadshow for the IPO in the United Kingdom, after already dropped similar events in Canada, Japan and the United States.
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