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Thursday, December 5, 2019

World's largest oil firm Saudi Aramco raises $25.6 billion in largest-ever IPO Thursday Dec 05,2019

Saudi Arabia's state oil company Aramco raised $25.6 billion in its initial stock offering on Thursday Dec 05,2019

The amount raised has broken the record of Chinese online giant Alibaba's $25 billion-debut on the Wall Street in 2014. However, it fell short of Crown Prince Mohammed bin Salman's target of $2 trillion.


The market launch has spiked Saudi Aramco's value at $1.7 trillion. It is now way ahead of the other contenders in the trillion-dollar club - Apple at $1.2 trillion and both Microsoft and Alibaba at $1.1 trillion.

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