Saudi Aramco, the world's largest initial public offering (IPO), surged past expectations as it debuted on the country's stock exchange on Wednesday morning.
Shares of the state-owned oil company rose to 35.2 riyals in early deals in Riyadh, after initially debuting at 32 Saudi riyals, giving it a valuation of $1.88 trillion.
Aramco's public debut, which listed 1.5% of its shares locally on the Saudi Tadawul, is the largest on record — topping the $25 billionThe oil giant's initial public offering has surpassed its earlier valuation of $1.7 trillion, announced when share pricing was disclosed last week at the top of market range. But the $1.
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