Saudi Aramco hits new low since trading began on December 11
The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. Picture taken May 23, 2018. REUTERS/Ahmed Jadallah/File Photo
Saudi Aramco shares briefly hit 34.45 riyals ($9.18) in early trade, their lowest level since its shares began trading on December 11, following a record-setting initial public offering (IPO).
At 0706 GMT, Aramco shares were down 0.14% at 34.50 riyals.
They have lost almost 11% since hitting a high of 38.70 riyals.
The IPO was priced at 32 riyals per share, valuing Aramco at $1.7 trillion, making it the world's most valuable company.
