London | Saudi Arabia has bowed to pressure from international investors by pricing its state oil company at a maximum of $US1.7 trillion ($2.5 trillion), well short of the $US2 trillion sought by Crown Prince Mohammed bin Salman.
Saudi Aramco, which has struggled to convince international institutions to deliver the valuation demanded by the young ruler, at the weekend announced a 1.5 per cent stake float of around 3 billion shares, priced at 30 to 32 riyal apiece.
