The state oil giant’s value continues to rise, briefly hitting $2 trillion on its second day after going public.
Saudi Aramco finally went public with the world’s largest-ever IPO on Wednesday morning, with shares surging more than 15% in two days of trading and giving the state oil giant a valuation of $2 trillion.in its long-awaited debut on Wednesday morning: Saudi Aramco listed 1.5% of its shares on the local stock exchange and priced its IPO at $8.53 per share, raising a total of $25.6 billion.
With the stock jumping 10%—to a price of $9.38 per share—after the historic IPO began trading, that gave Aramco a market value of almost $1.9 trillion on its first day,The stock continued to surge on its second day after going public, rising to as much as $10.32 per share and allowing Saudi Aramco toat $9.81 per share, with a market value of just below $2 trillion—but if this kind of interest in the stock continues, the company could easily go beyond the $2 trillion mark for good.
Aramco mainly relied on domestic and regional investors after less-than-hoped-for interest from abroad, as many big foreign investors were“We are happy on the results today.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cineworld To Acquire Canada’s Cineplex In $2.1B Deal, Making Regal North America’s Largest Exhibition CircuitExhibition giant Cineworld, which acquired U.S. chain Regal Cinemas in 2018 for $3.6B, is adding another group to its portfolio with a proposed $2.1B (C$2.8B) purchase of Canada’s Cineplex. T…
Read more »
Qatar FM says early talks with Saudi Arabia have broken stalemate: CNNQatar's foreign minister said recent talks have broken a protracted stalema...
Read more »
Breakingviews - Why didn’t Qatar support Saudi Aramco’s big deal?(Reuters Breakingviews) - Why did Qatar pass up the chance to invest in Saudi Ar...
Read more »
U.S. sent troops to Saudi Arabia on defensive basis: MnuchinU.S. Treasury Secretary Steven Mnuchin said on Saturday U.S. troops were in Saud...
Read more »
Aramco indicative share price up slightly to 37 riyalsSaudi Aramco's shares went up slightly to 37 Saudi riyals ($9.87)...
Read more »
Breakingviews - Why didn’t Qatar support Saudi Aramco’s big deal?(Reuters Breakingviews) - Why did Qatar pass up the chance to invest in Saudi Ar...
Read more »