The state-owned oil giant started trading on the Saudi Tadawul stock exchange after a mammoth $25.6 billion initial public offering that set the record as the biggest ever in history. Trading for Aramco shares began at 10:30 a.m. in Riyadh. Aramco, owned by the state, has sold a 1.5% stake, pricing its shares before trading at 32 Saudi riyals, or what is $8.53. At a pre-trading auction earlier in the morning, bids for Aramco reached the 10% limit on stock price fluctuation allowed by Tadawul. That pushed the price of Aramco shares to 35.2 riyals, or $9.39 a share,

Source: International New York Times December 11, 2019 07:50 UTC