Saudi Aramco hits US$2 trillion valuation goal one day after floating

Credit: Proactive Investors- Published on December 12, 2019
Saudi Arabian Oil Co, otherwise known as Saudi Aramco, surged on its second day of trading to reach the coveted US$2 trillion valuation sought by Saudi ruler Crown Prince Mohammed bin Salman, a goal which had garnered scepticism from international investors. On Wednesday, Aramco shares began trading on Saudi Arabia’s stock...
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Credit: Wibbitz Studio
Published on December 12, 2019 -  00:52
Saudi Aramco Becomes World's First $2 Trillion Company
Saudi Aramco Becomes World's First $2 Trillion Company. The oil producer is now the most valuable company in the world, with runner-up Apple being valued at $1.2 trillion. The company gained roughly $300 billion in value after debuting on the Riyadh stock exchange Monday. The debut is the biggest initial public offering on record to date. Analysts predict the value will drop in the long term and that the valuation was "too much, too soon.”. Aramco could trade in a league of its own for some time, but the stock market is a weighing machine in the long term and the laws of economic gravity will eventually apply. , Bernstein Research Analysts, via CNN

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