Saudi Arabia is making a last-ditch attempt to persuade its institutions and wealthiest families to buy shares in Saudi Aramco after it floats today as Crown Prince Mohammed bin Salman refuses to give up on his coveted $2tn valuation.
As part of a plan to drive up the oil company’s stock price, state investment funds have been encouraged to buy the shares when trading begins in Riyadh, two people briefed on the matter said.
“The focus now is how to reach $2tn,” one of the people said.
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