IPO makes Aramco the world’s most valuable listed company
The largest oil producer is valued at $1.7-trillion, more than Apple or Microsoft
11 December 2019 - 16:50
Dubai/London — Saudi Aramco shares surged after the oil producer’s initial public offering (IPO), valuing the company at a record $1.88-trillion in the culmination of a four-year effort by the kingdom to list its crown jewel.
The stock jumped the daily 10% limit to 35.20 riyals when trading began at 10.30am in Riyadh as Aramco board members, Saudi officials and invited guests cheered at a ceremony at the Fairmont Hotel in the kingdom’s capital...
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