FILE - This Sept. 15, 2019 file photo, shows storage tanks at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia. Saudi Arabia's state-owned oil company Aramco on Thursday, Dec. 5, 2019, set a share price for its IPO — expected to be the biggest ever — that puts the value of the company at $1.7 trillion, more than Apple or Microsoft. (AP Photo/Amr Nabil, File)

Saudi Aramco starts trading after record $25.6 billion IPO

December 11, 2019 - 2:36 am

RIYADH, Saudi Arabia (AP) — Saudi Arabia's oil company Aramco is now listed and has started trading on the Saudi Tadawul stock exchange on Wednesday for the first time after a mammoth $25.6 billion initial public offering that set the record as the biggest ever in history.

The state-owned company had announced a sale of 1.5% of its shares at 32 Saudi riyals a share, or what is $8.53. At that price, Aramco is the world's most valuable company at $1.7 trillion. That's more than the top five oil companies - Exxon Mobil, Total, Royal Dutch Shell, Chevron and BP - combined.

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