Funds expect Saudi Aramco to be valued up to $1-1.5 trillion
The EFG Hermes survey, conducted at an investment conference organized by the bank in Dubai, found 39 percent of respondents predicted the market would value Aramco at between $1 trillion and $1.5 trillion.
Thirty-six percent expect a valuation below $1 trillion, and 24 percent a figure above $1.5 trillion, the bank said.
EFG Hermes said it polled 510 international fund managers and investors from 260 institutions at the conference, as well as 147 other companies. It did not say how many of them had replied to the question on Aramco.
The company's ultimate valuation will depend on decisions that are expected to be made by Saudi authorities in coming months, including the tax rate that Aramco will pay as a public company, and the portion of Aramco's huge and diverse array of assets that is included in the listed entity. ■