Saudi Aramco stock surged on the second day after its record IPO on Tuesday. Saudi Aramco on Thursday topped the $2 trillion valuation sought by Saudi Crown Prince Mohammed bin Salman to fuel his Vision 2030 plans to try and diversify the Saudi economy away from oil.
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Notably, the combined market value of all BSE-listed companies is about $2.1 trillion. Aramco’s Initial Public Offering (IPO), which raised a record $25.6 billion, consisted of only 1.5% of the state oil giant’s stock. For the unknown, Aramco on Wednesday dethroned Apple as the world’s largest traded company.
Read more at Reuters