Saudi Aramco has finally gone public with the world’s largest-ever IPO this morning, with shares rising the daily limit of 10% on the 1st day of trading by skleb1234
Saudi Aramco has finally gone public with the world’s largest-ever IPO on Wednesday morning, with shares rising the daily limit of 10% on the first day of trading and giving the state oil giant a valuation of $1.88 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 gives Aramco a market value of almost $1.9 trillion,The oil giant surpassed its earlier valuation of $1.7 trillion, and if interest in shares continue and the stock continues to rise, the company could reach a market value of more than $2 trillion.
The company’s weighting in the local exchange will be capped at 15%, with the proceeds from the IPO amounting to more than raised in a decade of initial public offerings on the Saudi stock exchange, BloombergAramco 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.
France Dernières Nouvelles, France Actualités
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