Saudi Aramco sells 45 crore more shares Saudi Aramco, the world's largest oil company, entered the stock market last month. Within days, the Sensex gained momentum.
Last month, Saudi Aramco sold $ 25 billion worth of shares through its IPO. Within days of the Saudi Stock Exchange, the market value of the company was rising. In two days, the company's valuation increased by Rs. The market price of the stock, which started at a base price of 32 riyals, rose to eight riyals from thirty-eight.
The company is planning to sell more shares through the Green Show system, which will allow companies to sell more shares when the need is greater during the initial offering. Through this, Saudi Aramco will sell an additional 450 million shares.
By issuing additional shares, Saudi Aramco was able to reach its IPO record high of $ 29 billion. The latest developments in the Arab sector have seen the Aramco share market fluctuate in recent days. Shares of the company closed lower at 34 Riyal on Wednesday.
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