Saudi Aramco – The first $2 trillion company
Saudi Aramco has touched a market value of $2tn a day after the company made its stock market debut.
The shares reportedly rose almost 10% at the open on the second day of trade on Riyadh’s Tadawul stock exchange, lifting the company’s market value briefly to $2tn, before giving up some of their gains.
Shares rose from Wednesday’s close of 35.2 Saudi riyals to a high of 38.7 riyals before easing back to 37.3 riyals.
Aramco became the world’s biggest listed company on Wednesday when its shares rose 10% on the first day of trading, valuing it at $1.87tn. The share price surge was capped at 10% under rules to safeguard market stability.
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