Saudi Aramco shares priced at top of range in world's biggest IPO

DUBAI (Reuters) - State-owned oil giant Saudi Aramco has priced its initial public offering (IPO) at the top of its indicative range, the company said on Thursday, making it the world's biggest flotation by raising more than Alibaba's $25 billion (£19.49 billion) listing in 2014. Saudi Arabia relied on domestic and regional investors to sell a 1.5% stake after lukewarm interest from abroad, even at the reduced valuation of $1.7 trillion, which was below the $2 trillion target initially sought..