London (CNN Business)Saudi Aramco shares zoomed higher on Thursday, turning the massive state oil producer into the world's first $2 trillion company and achieving the valuation long sought by Crown Prince Mohammed bin Salman.

The stock gained 10% for a second consecutive day, reaching 38.70 riyals ($10.32) per share before giving up some of its gains.
Saudi Aramco has gained roughly $300 billion in value since its shares debuted on the Riyadh stock exchange on Monday in the biggest initial public offering on record. It's by far the most valuable company in the world, dwarfing runner up Apple, which is worth around $1.2 trillion.

The vast majority of buyers for the stock are in Saudi Arabia. Samba Capital, which managed the IPO, said Tuesday that 97% of retail investors who received shares were from the country. And more than 75% of shares sold to institutional investors went to Saudi companies, funds and government institutions

Source: https://edition.cnn.com/2019/12/12/investing/saudi-aramco-2-trillion/index.html

And some people still believe crude oil will be useless or worthless very soon ? I laugh in Tesla

So they have oil and we have oyel?


Na wah o

emeijeh:
So they have oil and we have oyel?

Na wah o

It's all about management, they are way better in management .

emeijeh:
So they have oil and we have oyel?

Na wah o

It's all about management, they are way better in management .

This is the height NNPC is expected to attain, if the management is serious.

NNPC Should be the 3rd most valuable company.. dont ask me how I know

NNPC only good on paper and kwaraption


https://www.youtube.com/watch?v=mCX6rAYa9Xo

Very true. Those guys are so organized.

Crofton:



It's all about management, they are way better in management .

Something about this IPO got me thinking. How can a company as ARAMCO be so valuable such that it almost doubled the market capitalisation of Apple? Almost bigger than the entire African GDP? How??


I think this IPO was influenced by the power that be hence why the shares were subscribed by majority of preference shareholders. However, this is the first listing. They will soon go to NYSE and LSE where those money bags are domiciled.

Fairview1:
Something about this IPO got me thinking. How can a company as ARAMCO be so valuable such that it almost doubled the market capitalisation of Apple? Almost bigger than the entire African GDP? How??


I think this IPO was influenced by the power that be hence why the shares were subscribed by majority of preference shareholders. However, this is the first listing. They will soon go to NYSE and LSE where those money bags are domiciled.

Use Google before you draw conclusions based on ignorance.

SocialJustice:
Use Google before you draw conclusions based on ignorance.

Bros, please educate me on this. I typed all those based on the little knowledge I have about the capital market operation.

I don't take offense at if you deem it feat to put me through. Just an innocent plea. Thank you.

Fairview1:


Bros, please educate me on this. I typed all those based on the little knowledge I have about the capital market operation.

I don't take offense at if you deem it feat to put me through. Just an innocent plea. Thank you.

Just ask Google why Saudi Aramco is worth $2trn. It is a combination of profitability, asset base and management.

SocialJustice:
Just ask Google why Saudi Aramco is worth $2trn. It is a combination of profitability, asset base and management.

Okay, Thanks. I have done that. I now have a brighter perspective. Thanks a lot!