Saudi Aramco set to hit $2 trillion market value on Thursday

Saudi Aramco’s (2222.SE) share price jumped 10% for the second consecutive day, hitting 38.7 riyals ($10.32) in a pre-market auction, Refinitiv data showed, suggesting the company will hit a $2 trillion market value when it starts trading on Thursday.

The state-owned oil giant’s shares surged the maximum permitted 10% above their IPO price on their Riyadh stock market debut on Wednesday, closing at 35.2 riyals and giving the company a market value of about $1.88 trillion riyals, closing in on the $2 trillion price tag long sought by Saudi Crown Prince Mohammed bin Salman.

Reuters