Saudi Aramco floated last week, and anyone intrigued by fair market value had to take note. The company, by far the most profitable in the world, released less than 5% of its shares on Tadawul, the Saudi exchange. Investment firms (27 of which are involved in this initial float) and analysts had compared notes on geopolitical, climate, and business risk, and Fortune reported prior to the official IPO that values ranged from $1.2 trillion to $2.3 trillion—close enough. For the record, Aramco reported profits of $111 billion in the last year, more than Apple and Microsoft combined. Several BVWire—UK readers commented that it was refreshing to see an IPO from a company that was already profitable, after the various ‘tiny’ efforts for ‘unicorns’ with continued forecasted losses, in some cases, into perpetuity.