Aramco Closes Just Below $2 Trillion Goal in Second-Day Gain

Volume accelerates in Riyadh trading after world-record IPO
Stock increase may complicate effort at international listing

Khalid Abdullah Al Hussan, CEO of Tadawul, the Saudi stock exchange, discusses Saudi Aramco’s IPO.(Source: Bloomberg)

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By Filipe Pacheco

December 12, 2019 at 3:00 AM UTC

Updated on

December 12, 2019 at 1:26 PM UTC

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Saudi Aramco shares rose for a second day, but the oil giant failed to hold on to the $2 trillion valuation that Crown Prince Mohammed bin Salman had long targeted.

The stock climbed 4.6% to close at 36.80 riyals in Riyadh, finishing at $1.96 trillion. Aramco earlier rose as much as 10%, the daily limit, in trading of 418 million shares, up from 31.6 million Wednesday.