DUBAI (Reuters) – Saudi Aramco’s (2222.SE) shares opened up 10% in their second trading session on Thursday, briefly sending the state-owned oil company’s market value above the $2 trillion target sought by Saudi leader Crown Prince Mohammed bin Salman.
The shares hit 38.7 riyals ($10.32) before easing to around 37 riyals after about 15 minutes of trade, up 5%.
On their debut on the Riyadh market on Wednesday the shares gained the bourse’s maximum 10%.
Saudi Arabian Oil Co (Aramco) became the world’s biggest initial public offering (IPO) last week by raising $25.6 billion to top the $25 billion listing in 2014 of and Chinese tech firm Alibaba (BABA.N).
Still, that was well below the Crown Prince’s plan announced in 2016 which called for raising as much as $100 billion via international and domestic listings of a 5% stake.
Muted interest from foreign investors meant Aramco had to cancel roadshows in New York and London, selling just a 1.5% stake in Riyadh and relying…
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