Saudi Aramco Worth Touches Valuation Same As India’s Entire Stock Market

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

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