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Tags: ML | Saudi | Aramco

Saudi Aramco Starts Trading after Record $25.6 Billion IPO

Saudi Aramco Starts Trading after Record $25.6 Billion IPO

Wednesday, 11 December 2019 02:38 AM EST

RIYADH, Saudi Arabia (AP) — Saudi Arabia's oil company Aramco is now listed and has started trading on the Saudi Tadawul stock exchange on Wednesday for the first time after a mammoth $25.6 billion initial public offering that set the record as the biggest ever in history.

The state-owned company had announced a sale of 1.5% of its shares at 32 Saudi riyals a share, or what is $8.53. At that price, Aramco is the world's most valuable company at $1.7 trillion. That's more than the top five oil companies - Exxon Mobil, Total, Royal Dutch Shell, Chevron and BP - combined.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Saudi Arabia's oil company Aramco is now listed and has started trading on the Saudi Tadawul stock exchange on Wednesday for the first time after a mammoth $25.6 billion initial public offering that set the record as the biggest ever in history. The state-owned company had...
ML,Saudi,Aramco
101
2019-38-11
Wednesday, 11 December 2019 02:38 AM
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