DUBAI — Saudi Aramco shares were up 1% at 37.2 riyals ($9.89) in early trade on Sunday. The state-owned oil company listed 1.5% of its shares at 32 riyals on Riyadh's Tadawul exchange on Dec 11 in the world's largest initial public offering (IPO). Initially valued at $1.7 trillion, the shares have since hit $2 trillion, a value long sought by Saudi Crown Prince Mohammed bin Salman. Some 406 million Aramco shares had traded as of 0841 GMT on Sunday, Refinitiv data showed. Additional demand, particularly from "passive" investors, is expected this week, as Aramco's shares will join the Tadawul index and global benchmarks such as MSCI.

Source: International New York Times December 15, 2019 07:24 UTC