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.
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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