saudi-aramco-hits-new-low-since-trading-began-on-december-11

Saudi Aramco hits new low since trading began on December 11

Business

DUBAI (Reuters) – Saudi Aramco (2222.SE) 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.

Reporting by Saeed Azhar; editing by Jason Neely