For biggest IPO, Saudi Aramco might have to give up on secrecy

The consultants at Wood Mackenzie figure a valuation of roughly $400 bn

Saudi Arabia has often been a place of mysteries and intrigue, and its promised initial public offering of the kingdom’s crown jewel — the national oil company Saudi Aramco — is only the latest puzzle.
 
As investment bankers and Saudi officials plan the trading debut, there are more questions than answers: Is the company worth $2 trillion, as the Saudis insist, or a small fraction of that, as argued by bankers and international oil experts? Will members of the royal family, with their secret oil payments, allow the kind of transparency that investors are demanding? Can the Saudis pull