Saudi Aramco is the largest most profitable oil company in the world. On the last week Saudi Aramco made their Initial Public Offering. The company has comfortably overtake Apple. Only 1.5% of Saudi Aramco shares were listed on Riyadh Stock exchange on wednesday. The shares raise maximum 10% allowed by the Riyadh exchange on their first day of trading, hit 38.7% riyals ($10.32) on thursday. The company market value were raised to $2 trillion. In 2016 Saudi leader Crown Prince Mohammed Bin Salman plan was to raise Saudi Aramco as much as $100 billion. The new market value of Saudi Aramco is more than his plan and the dream come true.
After the gain of two days, the valuation of Apple is now the world's second biggest listed company, which is worth about $1.19 trillion.
Global funds are expected to buy shares in the Saudi Aramco. The Saudi government has encouraged state funds and wealthy individuals to buy the stock in the after market to support its valuation.
After the gain of two days, the valuation of Apple is now the world's second biggest listed company, which is worth about $1.19 trillion.
Global funds are expected to buy shares in the Saudi Aramco. The Saudi government has encouraged state funds and wealthy individuals to buy the stock in the after market to support its valuation.
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