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Dec. 11, 2019, 9:05 a.m. EST

Saudi Aramco shares surge past expectations in debut, hitting 10% daily limit

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By Barbara Kollmeyer, MarketWatch , Associated Press


AFP via Getty Images
A billboard displaying an advert for Aramco is pictured in the Saudi capital Riyadh on November 11, 2019

Shares of Saudi Arabia’s oil company Aramco surged Wednesday in their debut on the Saudi Tadawul stock exchange, reaching a 10% daily limit in early action.

According to the stock exchange’s website , Aramco shares most recently changed hands at 35.20 Saudi riyals ($9.39), after debuting at 32 riyals SA:2222 0.00%   in the sale of 1.5% of the company’s shares. The most recent share price brings Aramco’s value up to $1.88 trillion.

The massive $25.6 billion initial public offering has become the biggest in history. Aramco is now the world’s most valuable company. That’s more than the top five oil companies -- Exxon Mobil /zigman2/quotes/204455864/composite XOM +0.95%  , Total /zigman2/quotes/206172043/delayed FR:FP -2.03%  , /zigman2/quotes/201824152/composite TOT +0.37%  Royal Dutch Shell /zigman2/quotes/205095589/composite RDS.A -2.02%  , /zigman2/quotes/206428183/delayed UK:RDSA -4.43%  Chevron /zigman2/quotes/205871374/composite CVX +0.91%  and BP /zigman2/quotes/207305210/composite BP -0.52%  — /zigman2/quotes/202286639/delayed UK:BP -2.61%  combined.

The IPO has been targeted at Saudi nationals as well as some strategic investors, though investment bankers failed to draw in international buyers.

Read: The most important thing to know about the Saudi Aramco IPO

SA : Saudi Arabia Stock Exchange
ر.س.‏ 33.00
0.00 0.00%
Volume: 15.77M
May 21, 2020 12:00a
P/E Ratio
21.21
Dividend Yield
N/A
Market Cap
ر.س.‏6596.13 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204455864/composite
US : U.S.: NYSE
$ 45.47
+0.43 +0.95%
Volume: 25.89M
May 29, 2020 4:00p
P/E Ratio
17.08
Dividend Yield
7.65%
Market Cap
$190.44 billion
Rev. per Employee
$3.93M
loading...
/zigman2/quotes/206172043/delayed
FR : France: Euronext Paris
33.63
-0.70 -2.03%
Volume: 13.83M
May 29, 2020 5:38p
P/E Ratio
12.16
Dividend Yield
7.85%
Market Cap
€88.31 billion
Rev. per Employee
€1.59M
loading...
/zigman2/quotes/201824152/composite
US : U.S.: NYSE
$ 37.58
+0.14 +0.37%
Volume: 2.46M
May 29, 2020 4:00p
P/E Ratio
12.21
Dividend Yield
N/A
Market Cap
$96.34 billion
Rev. per Employee
$1.87M
loading...
/zigman2/quotes/205095589/composite
US : U.S.: NYSE
$ 31.95
-0.66 -2.02%
Volume: 6.30M
May 29, 2020 3:59p
P/E Ratio
13.20
Dividend Yield
3.41%
Market Cap
$66.59 billion
Rev. per Employee
$4.75M
loading...
/zigman2/quotes/206428183/delayed
UK : U.K.: London
1,259.20 p
-58.40 -4.43%
Volume: 16.18M
May 29, 2020 4:35p
P/E Ratio
12.99
Dividend Yield
4.11%
Market Cap
£102.56 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 91.70
+0.83 +0.91%
Volume: 17.02M
May 29, 2020 3:59p
P/E Ratio
45.32
Dividend Yield
5.63%
Market Cap
$169.65 billion
Rev. per Employee
$3.27M
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 23.14
-0.12 -0.52%
Volume: 10.21M
May 29, 2020 4:00p
P/E Ratio
19.35
Dividend Yield
10.80%
Market Cap
$77.91 billion
Rev. per Employee
$4.03M
loading...
/zigman2/quotes/202286639/delayed
UK : U.K.: London
305.75 p
-8.20 -2.61%
Volume: 87.09M
May 29, 2020 4:35p
P/E Ratio
N/A
Dividend Yield
11.11%
Market Cap
£63.10 billion
Rev. per Employee
N/A
loading...

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

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