Is Aramco really worth 2 trillion?

Now It Is. Shares in the company closed at 38 riyals, or about $10.13, giving the company a valuation of $2.03 trillion on the Saudi exchange. The company made its market debut on Wednesday at a value of $1.88 trillion.

When did Saudi Aramco reach 1 trillion?

RIYADH, Saudi Arabia — Saudi Arabia’s oil company Aramco gained 10% in its first moments on the stock market Dec. 11 in a dramatic debut that held until closing and pushed its value up to $1.88 trillion, surpassing Apple as the largest listed company in the world.

Is Saudi Aramco a trillion dollar company?

The shares rose to 35.2 Saudi riyals, giving it a market capitalisation of about US$1.88 trillion, and surpassed the US$2 trillion mark on the second day of trading. In the 2020 Forbes Global 2000, Saudi Aramco was ranked as the 5th-largest public company in the world.

How much did Aramco raise in IPO?

Saudi Aramco raises IPO to record $29.4 billion by over-allotment of shares. DUBAI (Reuters) – State-owned oil company Saudi Aramco said on Sunday it had exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion.

Why is Saudi Aramco so valuable?

In a lot of ways, the global downturn in oil and gas is why Aramco is so incredibly valuable. Jackie Forrest, the director of Arc Energy Research, said the company made a staggering $111 billion in profit last year.

Who is richest company in the world?

1. Apple Inc – 2.4 Trillion USD. Apple Inc, a Cupertino-based American tech company is the most valuable company in the world with a record market cap of $ 2.4 Trillion. Apple is the most successful brand with a revenue of $275 billion dollars as of 2020.

What is the world’s richest company?

APPLE INC
The Top 100, Ranked

Is Aramco worth more than Apple?

Apple is now the world’s most valuable company. It surpassed Saudi Aramco. Apple’s strong fiscal third quarter earnings, released Thursday, boosted its stock.

Who is the CEO of Aramco?

Amin H. Nasser (Sep 2015–)
Saudi Aramco/CEO

Amin H. Nasser is the president and chief executive officer of Saudi Aramco, the world’s leading integrated energy and chemicals enterprise, and the largest provider of crude oil to global markets. He is also a member of the company’s Board of Directors.

What is the largest IPO in history?

Alibaba Group Holding Limited
At more than 21 billion U.S. dollars, the 2014 initial public offering (IPO) of Alibaba Group Holding Limited remains the largest IPO in the United States ever.

Is Saudi Aramco the richest company in the world?

Saudi Aramco, which has been the largest public company since going public last year, had a market capitalization of $1.76 trillion as of last close.

Which is World No 1 company?

This list includes the largest companies in the world after consolidated sales as of 2018, according to the Fortune Global 500. American retailer Walmart has been the largest company in the world since 2014. The list is limited to 50 companies, all of which have annual sales of more than $ 110 billion.

Who are the investors in the Saudi Aramco IPO?

According to experts, 75% of the institutional money in the Aramco IPO comes from Saudi company funds and government agencies. Over 97% of the retail investors are exclusively from Saudi Arabia and the Gulf — highlighting Aramco’s deficit of global investment.

How much is the valuation of Saudi Aramco?

Since opening on the Saudi stock exchange December 11, the valuation of the national oil giant jumped to $2 trillion ($2.03 trillion to be exact) – thanks to a surge on the first day of trading with a 10% increase in share price. Saudi Aramco began trading at 32 riyals (or $8.53) and stands at 36.70 riyals ($9.78) as of this writing.

Is the Saudi Aramco going to go public?

Saudi leadership continues to insist that an Aramco IPO is pending, even though there are indications that the initial public offering process has stalled. If Saudi Arabia does intend to take its national oil company public, perhaps Apple’s enormous valuation can tell us something about what Aramco should be worth.

What’s the difference between Apple and Saudi Aramco?

Apple makes great computers and tablets, but Apple’s big product is the iPhone. It is that communications magic that we take with us everywhere which has made Apple worth a trillion dollars. Aramco does not own its oil reserves. Saudi Arabia does, but Aramco operates with an exclusive concession agreement.