aramco

Saudi Aramco Shares Rocket On Debut After Record IPO

December 11, 2019 4:12 pm

Saudi Aramco’s shares soared on their debut on the domestic stock exchange Wednesday, becoming the world’s biggest listed company worth $1.88 trillion after a record-breaking IPO.

Aramco had priced the initial public offering at 32 riyals ($8.53) per share, raising $25.6 billion and narrowly eclipsing Alibaba’s IPO of 2014 to become the world’s largest.

Aramco shares climbed the maximum permitted 10 percent to 35.2 riyals just seconds after the opening bell on Riyadh’s Tadawul exchange and stayed there until trading stopped.

That gives Aramco a market valuation of $1.88 trillion, making it the world’s most valuable company as it closes

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Saudi Aramco Raises $25.6bn In Largest-Ever IPO

December 5, 2019 3:18 pm

Saudi Arabia’s state oil company Aramco launched its initial stock offering on Thursday, pricing at the high end of the target range and raising $25.6 billion, two sources told AFP.

That sum raised by the oil giant surpasses the $25 billion raised by the Chinese online trading group Alibaba when it debuted on Wall Street in 2014.

The market launch also puts the Saudi oil behemoth’s value at $1.7 trillion, far ahead of other corporate giants in the trillion-dollar club: Apple ($1.2 trillion), Microsoft and Alibaba ($1.1 trillion).

However, it fell short of the $2 trillion mark the kingdom’s de …

$2trn? Aramco Courts Investors To Hit IPO Valuation Target

November 3, 2019 3:01 pm

Saudi Aramco officials and advisers are holding last-minute meetings with investors in an attempt to achieve as close to a $2 trillion valuation as possible ahead of an expected listing launch on Sunday, according to three sources.

Possible failure to reach the coveted target had caused a dilemma for Saudi Arabia’s Crown Prince Mohammed bin Salman: swallow the bitter pill of going ahead at a lower valuation, or postpone the initial public offering (IPO) once again. But on Friday he gave the green light for the debut to go ahead.