Saudi Aramco hits new low since trading began on December 11
World+Biz
06 January, 2020, 06:40 pm
Last modified: 06 January, 2020, 06:45 pm
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.
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