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Stock impact report

Saudi Aramco shares surge past expectations in debut, hitting 10% daily limit [MarketWatch]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: MarketWatch
Saudi Aramco shares surge past expectations in debut, hitting 10% daily limit Shares of Saudi Arabia’s oil company Aramco surged Wednesday in their debut on the Saudi Tadawul stock exchange, reaching a 10% daily limit in early action. According to the stock exchange’s website , Aramco shares most recently changed hands at 35.20 Saudi riyals ($9.39), after debuting at 32 riyals in the sale of 1.5% of the company’s shares. The most recent share price brings Aramco’s value up to $1.88 trillion. The massive $25.6 billion initial public offering has become the biggest in history. Aramco is now the world’s most valuable company. That’s more than the top five oil companies -- Exxon Mobil XOM, -0.86% , Total FP, -0.18% , TOT, -0.17% Royal Dutch Shell RDS.A, +0.16% , RDSA, +0.92% Chevron CVX, +0.50% and BP BP, -0.24% — BP, +0.56% combined. The IPO has been targeted at Saudi nationals as well as some strategic investors, though investment bankers failed to draw in intern Show less Read more
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