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.
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