Saudi Aramco's record IPO starts Nov 17, prospectus says

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Saudi Aramco's record IPO starts Nov 17, prospectus saysSaudi Aramco's much-anticipated initial public offering will begin on November 17, the company's prospectus said, without revealing the size of the stake sale or the pricing range. The 658-page document, released just before midnight Saturday, said the final share price will be determined on December 5 -- a day after the subscriptions close -- in what is expected to be the world's biggest IPO. After years of delays and false starts, Aramco officials last week announced a share sale on the Riyadh stock exchange for the world's most profitable company, which pumps 10 percent of the world's oil.


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