Shares in Saudi Aramco have gained on the second day of trading, pushing the oil and gas company to a more than $2tn (€1.79tn) valuation. Shares jumped in trading to reach up to 38.60 Saudi riyals, or €9.25 before noon, three hours before trading closes. Aramco, which is the world’s most valuable listed company, has sold a 1.5% share to mostly Saudi investors and local Saudi Gulf-based funds. With gains made from just two day of trading, Aramco sits comfortably ahead of the world’s largest companies, including Apple, the second largest company in the world valued at $1.19tn (€1tn). At a ceremony for the start of trading, Aramco chairman Yasir Al-Rumayyan, described the sale as “a proud and historic moment for Saudi Aramco and our majority shareholder, the kingdom”.

Source: Irish Examiner December 12, 2019 09:33 UTC