Aramco shares hit highest level since listing
Aramco shares hit highest level since listing
Saudi Arabia’s Aramco Sets the IPO Price Range Between 30 and 32 Riyals Per Share
Key Takeaways
AIShares of Saudi Aramco hit their highest level since listing, at SR43.10 on Wednesday.
The stock closed 4% higher at SR43.05 per share, its highest closing since stock debut, with nearly 40 million shares traded at a value of SR1.7 billion.
Accordingly, Saudi Aramco’s market capitalization reached SR8.61 trillion (equivalent to $2.3 trillion).
Read also: Aramco, TotalEnergies Launch Retail Network in Saudi Arabia
Oil prices exceeded $113 a barrel during Wednesday's trading, as tensions in Eastern Europe continued, with Western countries imposing sanctions on Russia in response to its invasion of Ukraine.
Aramco was listed on the Saudi market in December 2019. Aramco’s primary objectives encompass all aspects of energy-related activities, including hydrocarbons, chemicals and other related and complementary industries, or any other activity within or outside Saudi Arabia.