Saudi Aramco Reaches $2 Trillion Market Value In Record IPO’s Second Day Of Trading

  • 📰 Forbes
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 53%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Over valued stock

failed communist people trial sponsors

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines