Saudi Aramco stock price jumped to 38.7 Riyals from its original price of 31.6 on Wednesday. This price increase pushes the oil giant’s value beyond the $2 trillion mark, making it the most valuable company in the public stock market.
Just recently, Saudi Aramco raised around 25.6 Billion USD in its initial public offering (IPO). Because of that Saudi Aramco hailed as the world’s largest IPO to date, succeeding that of the Alibaba Group in 2014.
With its stock trading kick off on Tadawul, the Saudi Arabian stock Exchange on 11 December 2019, the oil company giant shows an aggressive jump in just day one.
The stock climbed by the daily 10% limit to 38.7 riyals at the open in Riyadh before trimming gains. It rose 9.4% to 38.50 riyals at 11:30 a.m. local time in trading of 313 million shares, compared with 31.6 million for all of Wednesday.
Manage IPO Subscription through Saudi Banks
Individual investor who purchase Saudi Aramco IPO through Saudi Bank can now manage their subscription with their respective banks.
Saudi Aramco in the world
Saudi Aramco is one of the largest company by revenue and most profitable company in the world according to Bloomberg. It is the world’s second-largest proven crude oil reserves with more than 270 billion barrels, after Venezuela who has 303.2 billion barrels.
In the public stock market, Saudi Aramco also surpasses Microsoft Corporation and Apple Inc. making it as the most valuable listed company in the world.
Saudi Aramco operates the world’s largest single hydrocarbon network, the Master Gas System. Its 2013 crude oil production total was 3.4 billion barrels (540,000,000 m3), and it manages over one hundred oil and gas fields in Saudi Arabia, including 288.4 trillion standard cubic feet (scf) of natural gas reserves. Saudi Aramco operates the Ghawar Field, the world’s largest onshore oil field, and the Safaniya Field, the world’s largest offshore oil field in the world.
