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Saudi Aramco likely to touch $2 trillion market valuation today

The state-owned oil giant's shares surged the maximum permitted 10 per cent above their IPO price on their Riyadh stock market debut on Wednesday

twitter-logoReuters | December 12, 2019 | Updated 13:25 IST
Saudi Aramco likely to touch $2 trillion market valuation today
Saudi Aramco's share price jumped 10 per cent for the second consecutive day, hitting 38.7 riyals ($10.32) in a pre-market auction

Saudi Aramco's share price jumped 10 per cent for the second consecutive day, hitting 38.7 riyals ($10.32) in a pre-market auction, Refinitiv data showed, suggesting the company will hit a $2 trillion market value when it starts trading on Thursday.

The state-owned oil giant's shares surged the maximum permitted 10 per cent above their IPO price on their Riyadh stock market debut on Wednesday, closing at 35.2 riyals and giving the company a market value of about $1.88 trillion riyals, closing in on the $2 trillion price tag long sought by Saudi Crown Prince Mohammed bin Salman.

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