The record figure was long ridiculed and regarded with disbelief by much of the financial community.
A Saudi broker monitors the stock market at the Arab National Bank in the Saudi capital Riyadh on December 11, 2019. - Saudi Aramco's shares soared on their debut on the domestic stock exchange Wednesday, 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 per share, raising $25.6 billion and eclipsing Alibaba's $25 billion IPO of 2014 to become the world's largest.Shares of Saudi Aramco surged to 38.7 riyals apiece in their second day of public trading, pushing the kingdom's record IPO to a gargantuan $2 trillion valuation and hitting Crown Prince Mohammed bin Salman's long-held target for the company.
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