Aramco to be worth more than $2T: Saudi energy minister

Hurriyet Daily News | Dec 8, 2019 at 2:50 PM
  • Saudi Aramco’s market value will exceed $2 trillion after its floating on its stock exchange, Saudi Arabian energy minister said on Dec. 6, a day after the company hit a valuation of approximately $1.7 trillion in its initial public offering (IPO).
  • It broke the previous record held by Chinese e-commerce giant Alibaba’s offering on the New York Stock Exchange in 2014 when $21.8 billion was raised in a single day.
  • Aramco shares will begin to be trade publicly on Saudi stock exchange Tadawul next week.