Saudi Aramco set to hit $2 trillion market value

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Dubai | Published: December 12, 2019 12:46:01 PM

The state-owned oil giant's shares surged the maximum permitted 10% above their IPO price on their Riyadh stock market debut on Wednesday, closing at 35.2 riyals and giving the company a market value of about $1.88 trillion riyals.

saudi aramco ipo, saudi aramco share price, saudi aramco share price india, saudi aramco share, saudi aramco listing, saudi aramco market cap, saudi aramco ipo priceThe company will hit a $2 trillion market value when it starts trading on Thursday. (Reuters Image)

Saudi Aramco’s share price jumped 10% for the second consecutive day, hitting 38.7 riyals ($10.32) in a pre-market auction, Refinitiv data showed, suggesting the company will hit a $2 trillion market value when it starts trading on Thursday.

The state-owned oil giant’s shares surged the maximum permitted 10% above their IPO price on their Riyadh stock market debut on Wednesday, closing at 35.2 riyals and giving the company a market value of about $1.88 trillion riyals, closing in on the $2 trillion price tag long sought by Saudi Crown Prince Mohammed bin Salman.

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