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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 -0.30%   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 -0.46%  , Total /zigman2/quotes/206172043/delayed FR:FP -0.76%  , /zigman2/quotes/201824152/composite TOT -0.94%  Royal Dutch Shell /zigman2/quotes/205095589/composite RDS.A -1.31%  , /zigman2/quotes/206428183/delayed UK:RDSA -1.80%  Chevron /zigman2/quotes/205871374/composite CVX -0.77%  and BP /zigman2/quotes/207305210/composite BP -1.20%  — /zigman2/quotes/202286639/delayed UK:BP -2.71%  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.‏ 32.95
-0.10 -0.30%
Volume: 3.76M
Aug. 6, 2020 12:00a
P/E Ratio
21.18
Dividend Yield
4.27%
Market Cap
ر.س.‏6586.14 billion
Rev. per Employee
N/A
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/zigman2/quotes/204455864/composite
US : U.S.: NYSE
$ 43.44
-0.20 -0.46%
Volume: 18.76M
Aug. 7, 2020 4:02p
P/E Ratio
25.87
Dividend Yield
8.01%
Market Cap
$183.67 billion
Rev. per Employee
$3.93M
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/zigman2/quotes/206172043/delayed
FR : France: Euronext Paris
32.80
-0.25 -0.76%
Volume: 3.71M
Aug. 7, 2020 5:39p
P/E Ratio
N/A
Dividend Yield
8.05%
Market Cap
€86.07 billion
Rev. per Employee
€1.59M
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/zigman2/quotes/201824152/composite
US : U.S.: NYSE
$ 38.94
-0.37 -0.94%
Volume: 1.12M
Aug. 7, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$101.46 billion
Rev. per Employee
$1.87M
loading...
/zigman2/quotes/205095589/composite
US : U.S.: NYSE
$ 30.84
-0.41 -1.31%
Volume: 3.95M
Aug. 7, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
6.95%
Market Cap
$115.46 billion
Rev. per Employee
$4.75M
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/zigman2/quotes/206428183/delayed
UK : U.K.: London
1,154.60 p
-21.20 -1.80%
Volume: 4.23M
Aug. 7, 2020 4:35p
P/E Ratio
N/A
Dividend Yield
4.25%
Market Cap
£88.47 billion
Rev. per Employee
N/A
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/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 86.80
-0.67 -0.77%
Volume: 7.19M
Aug. 7, 2020 4:02p
P/E Ratio
N/A
Dividend Yield
5.94%
Market Cap
$162.08 billion
Rev. per Employee
$3.27M
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 22.98
-0.28 -1.20%
Volume: 10.63M
Aug. 7, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
9.44%
Market Cap
$75.36 billion
Rev. per Employee
$4.03M
loading...
/zigman2/quotes/202286639/delayed
UK : U.K.: London
287.25 p
-8.00 -2.71%
Volume: 28.19M
Aug. 7, 2020 4:35p
P/E Ratio
N/A
Dividend Yield
11.20%
Market Cap
£57.74 billion
Rev. per Employee
N/A
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Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

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