Financial news
Written by: Xu Shihao
2019-12-11 15:38
Last updated: 2019-12-11 15:39Saudi Aramco, Saudi Arabia ’s state-owned oil company, the world ’s largest initial public offering (IPO), was listed on the first day of the local stock exchange today (11). According to foreign news reports, the stock price in the pre-bid auction period rose to 35.2 rials (about 73.42 yuan), which is 10% higher than the offer price of 32 rials (about 66.75 yuan), and has reached the 10% limit mechanism.
In addition, some analysts believe that Saudi Aramco, as the world's fourth largest crude oil refinery, has the exclusive right to exploit Saudi Arabia's oil and gas reservoirs. The cost of producing oil and natural gas is one of the lowest in the world, which has an overwhelming cost advantage. Therefore, it is believed that it can bring sustainable development to the Group.
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Saudi Aramco