Aramco has announced what will be the biggest initial public offering (IPO) in history by pricing it at 32 riyals ($8.53) per share. This will raise it to $25.6 billion, surpassing the record established by the Chinese Alibaba of $25 billion in 2014. Aramco has a market value of $1.7 trillion, which makes of it the world’s most valuable listed firm. According to Reuters, the company may also exercise a 15 percent so-called “greenshoe” option, which will increase the size of the deal to a maximum of $29.4 billion. In order to raise this amount, Aramco will rely on Saudi and Gulf investors, after foreign investors interest diluted. A number of wealthy Saudis have been pressed to invest to get the deal done and even banking regulations has been modified in order to allow so. Saudis have also approached the Abu Dhabi Investment Authority (ADIA), who could invest at least $1 billion, although other sources said that the investment could range from 1.5 to 2 billion. It has also reached out to the Kuwait Investment Authority (KIA) and Singapore’s sovereign wealth fund, GIC. Many investors claim that Aramco’s divided yield of 4.4 percent is less attractive than many other publicly-traded oil companies. Besides, on 2 December, the Organization of Petroleum Exporting Countries (OPEC) announced its plans to deepen oil cuts. The deal currently being discussed by OPEC and other producers will raise the cuts to 1.6 million barrels per day, that is, 1.2% of global supply and extend it to June 2020. This will help Aramco efforts to raise the expected amount, although Russia is opposed to this new arrangement. Despite all this, the IPO falls short of the original 2016 plans of Saudi Crown Prince Mohammad bin Salman, who sought a $2 trillion valuation of the company and pretended to raise $100 billion.