When the Biggest IPO Isn’t Big Enough

Saudi Aramco was supposed to be the largest IPO of all time. There was delay after delay after delay, and then over the weekend, they finally posted preliminary pricing — with just 1.5% of the company being offered and an estimated valuation of $1.6-$1.7 trillion — raising questions about hurdles the company is facing. Dan breaks down the implications with Axios energy reporter Ben Geman. Plus: America’s Un-carrier gets a new boss and the legal fight over California’s new rules on board diversity.

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Each weekday afternoon, Axios unpacks the biggest story of the day and why it matters. We'll take you inside the accelerating forces, technologies and trends that are remaking your world and work. About Axios: Axios is a digital media company launched in 2017. Axios - which means “worthy” in Greek - helps you become smarter, faster with news and information across politics, tech, business, media, science and the world. Subscribe to our newsletters at axios.com/newsletters and download our mobile app at axios.com/app.  Axios Re:Cap is on hiatus until October 2021.