Dubai: Saudi Aramco shares surged after its initial public offering (IPO), valuing the oil producer at a record US$1.88 trillion and lifting Saudi Arabia’s stock market into the ranks of the world’s largest.
The stock jumped the daily 10% limit to 35.20 riyals when trading began in Riyadh as Aramco board members, Saudi officials and invited guests cheered at a ceremony in the kingdom’s capital.
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