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Saudi Aramco shares to kick off trading next Wednesday

Saudi Aramco shares to kick off trading next Wednesday
IPO price was fixed at SAR 32 per share

Riyadh – Mubasher: Saudi Aramco shares will start trading on 11 December, the Saudi securities exchange Tadawul said in a statement on Friday.

Aramco shares will trade under the symbol 2222, while they will have a daily fluctuation limit of plus or minus 10%, Tadawul said on its website.

“On the first day of trading only, the opening auction for the Saudi Arabian Oil Company (Saudi Aramco) will be extended for 30 minutes,” Tadawul noted.

The oil giant fixed the final initial public offering (IPO) price at SAR 32 per share.

It is worth pointing out that Aramco raised a collective SAR 446 billion from the retail and institutional subscription orders, with the IPO 465% oversubscribed.