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Saudi Aramco starts trading after record $25.6 billion IPO

11 Dec 2019 14:27, Somoy English Desk
Saudi Aramco starts trading after record $25.6 billion IPO
Saudi Aramco starts trading after record $25.6 billion IPO

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, reports UNB.

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.

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