Saudi Aramco's value jumped over the US$2 trillion mark on the second day of trading on Saudi Arabia's stock exchange Tadawul.
On the first day of trading, yesterday, they hit the 10 per cent daily limit that saw the company valued at $1.88 trillion at the end of day 1. On Thursday shares climbed from Wednesday’s close of SR35.2 to a high of SR38.7 before dipping to SR37.3, according to the Tadawul stock exchange website.
According to reports, after the first day of trading the number of individual subscribers was 5.056 million, with a total subscription value of 49.2 billion riyals. Saudi Arabian subscribers were allocated 96.6 per cent of the retail offering and expatriates and GCC nationals 3.4 per cent. Foreign investors outside UAE or Kuwait were absent from the Aramco IPO.