Saudi Aramco to start trading stocks

Last Friday (6), the Árabia Stock Exchange Saudi Arabia (Tadawul), announced that oil company Saudi Aramco will begin trading stocks next Wednesday. Actions will be published with the symbol “2222” and will have a daily fluctuation limit of 10% in positive and negative. The event promises to be the largest public sale of shares in history.

The oil company has priced each share at 32 riyals (R$ 35.6) and has already confirmed that it will offer 1.5% of its shares for a total value of US$ 25.6 billion, an estimate of the company’s value of US$ 1.7 million Trillion.

However, the company reserves the right to buy and offer more shares up to 3.45 billion shares during the first 30 days, up to reach 29.4 billion. However, the company received requests for subscription to shares institutional and individual investors well above what was offered, a total of $119 billion.

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