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Aramco’s market value jumps to $2 trillion for the first time in two years

Aramco expands global downstream presence with key European investment. AFP
By TRENDS Desk
October 6, 2021 4:33 pm
  • The Saudi company helped fuel a rise in the Kingdom's stock market, with the Tadawul index exceeding 11,600 points for the first time in 14 years today
  • Aramco shares came at the forefront of the active shares in the market, with a 1.08 percent rise and reaching SR37.45 per share

The market value of Aramco has exceeded $2 trillion after its shares vaulted to their highest level since the start of 2020.

The oil giant has now replaced Google to become the third largest listed company in the world,

The Saudi company helped fuel a rise in the Kingdom’s stock market, with the Tadawul index exceeding 11,600 points for the first time in 14 years today.

Shares of 79 companies rose in the market, while 54 companies saw a decline.

The trading value amounted to SR419.2 million, after trading 9.82 million shares.

Aramco shares came at the forefront of the active shares in the market, with a 1.08 percent rise and reaching SR37.45 per share, followed by Al-Rajhi Bank shares, which rose by 1.25 percent and reached SR129.8 per share.

According to media reports, Aramco is seeking more than $15 billion for the share of a gas pipeline.

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