Saudi Aramco shares rocket on debut after record IPO

Saudi Aramco's shares soared on their debut on the domestic stock exchange yesterday, becoming the world's biggest listed company worth $1.88 trillion after a record-breaking IPO.

Aramco had priced the initial public offering at 32 riyals ($8.53) per share, raising $25.6 billion and eclipsing Alibaba's $25 billion IPO of 2014 to become the world's largest.

Aramco shares rose 10 per cent to 35.2 riyals just seconds after trading began on Riyadh's Tadawul exchange, the maximum allowed on any trading day, further boosting the energy giant's valuation.

"Today is a day of immense pride for Aramco," company chief executive Amin

Nasser said at a glitzy launch ceremony.

"Today we make history as Saudi Aramco marks the beginning of an important new chapter in our company's journey of prosperity," he added.

 

Saudi Aramco shares rocket on debut after record IPO

Saudi Aramcos shares soared on their debut on the domestic stock exchange yesterday, becoming the worlds biggest listed company worth $1.88 trillion after a record-breaking IPO. Aramco had priced the initial public offering at 32 riyals ($8.53) per share, raising $25.6 billion and eclipsing Alibabas $25 billion IPO of 2014 to become the worlds largest. Aramco shares rose 10 per cent to 35.2 riyals just seconds after trading began on Riyadhs Tadawul exchange, the maximum allowed on any trading day, further boosting the energy giants valuation. Today is a day of immense pride for Aramco, company chief executive Amin Nasser said at a glitzy launch ceremony. Today we make history as Saudi Aramco marks the beginning of an important new chapter in our companys journey of prosperity, he added.