Big surge for Saudi Aramco shares after record IPO

WorldNews

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Riyadh/Dubai: Saudi Aramco shares surged the maximum permitted 10 per cent above their IPO price on their Riyadh stock market debut on Wednesday. The shares closed at 35.2 riyals ($9.39) each, up from the initial public offering (IPO) price of 32 riyals and at the daily limit of price moves allowed by the Tadawul exchange. That gives Saudi Arabian Oil Co (Aramco) a market value of about $1.88 trillion, comfortably making...

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