Amidstthe Saudi demand for Aramco's shares at the upper limit of the SAR32price range, Moody's confirmed that the inclusion of a share of theenergy giant in the Saudi Stock Market (Tadawul) is positive for theasset management sector in the Kingdom of Saudi Arabia.
Moody's added that the listing would be in the interest of companiesdealing in products in international markets, such as NCB Capital and JadwaAsset Management, among others.
Moody's also said the listing would improve liquidity and trading volume inTadawul as well.
Standard and Poor's also commented on Aramco's offer, saying the bulk of the subscriptionwould go to the Public Investment Fund (PIF), which could boost thekingdom's net financial assets of 72.7% of GDP.
Theassets could also help keep growth accelerating over the three-year ratinghorizon, the agency said.
Itshould be noted that the announced price range evaluates Aramco between $1trnand $600bn, $1tn and $700bn, which means that the subscription will raisebetween $24bn and $25.6bn.
It'snoteworthy that the final share price will be announced on December 5th.
