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IS - Saudi Aramco nips at $2T valuation in Tadawul trading - December 2019

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Saudi Aramco priced its Tadawul-listed initial public offering of 3 billion shares at SAR32 ($8.53) each, selling a 1.5% stake in the company on Dec. 10 for about $25.6 billion in proceeds. The shares ran up 10% almost immediately to SAR35.2 and have since hovered in the SAR36-38 range, bringing Aramco’s valuation near—and at least once past—the $2 trillion mark that Saudi Crown Prince Mohammad bin Salman has insisted the company is worth since......
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