The world’s most valuable company

After multiple delays, Saudia Arabia is finally making it happen.

A much-watched step in the country’s goals to modernize and privatize parts of its economy, its state-owned oil business, Saudi Aramco, raised $25.6 billion in the world’s largest IPO ever after pricing 3 billion shares at 32 riyals ($8.53) apiece.

The raise beats the largest yet—that of Alibaba’s in 2014—by about $600 million. It also crowns the company as the most valuable among publicly-traded companies right now.

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