Leading Fund Managers Say Aramco Is Significantly Overvalued

A day before Aramco is to announce the final price of the shares it will list on the Saudi stock exchange, the list of bad news for the company got longer. A survey among fund managers has shown that most of them believe that the company is overvalued by up to a third. The survey was conducted among 31 asset managers holding assets of $3.8 trillion by Bernstein and reported by Fortune. Its conclusion supports what a number of observers have been saying for months now: that interest in Aramco shares among international investors is unlikely to be…