The world's most valuable company: Saudi Arabia puts $1.7 trillion price tag on its oil monopoly

In a statement Sunday, Saudi Aramco said it was aiming to sell about 1.5% of its 200 billion shares in a partial privatization for between 30 riyals and 32 riyals each. That means Aramco, the most profitable company in the world, could be worth between 6 trillion riyals and 6.4 trillion riyals — making it also by far the world's most valuable company ahead of Apple .

But low oil prices, the climate crisis and geopolitical risk have raised skepticism among international investors. Up to 0.5% of the company will be sold to individuals, with the remainder offered to institutional investors. Aramco may need to heavily rely on rich local families, sympathetic sovereign wealth funds or major customers such as China signing up for shares. Reuters reported Sunday that Aramco will not market the IPO abroad.

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