Saudi Aramco created history, became
the world's highest-valued company.
New Delhi: World's largest oil company Saudi Aramco has created history. On the Riyadh
stock market, Saudi Aramco's shares went up 10% from the IPO listing price.
With this, it has become the world's highest-valued company and in this case it
has left behind giants like Apple and Microsoft.
On Wednesday, shortly
after Saudi Aramco's stock hit the market, it reached 10 percent higher than
the initial public offering (IPO) listing price. Its shares were listed at 32
riyals, but soon the share price reached 35.2 riyals. This brings the valuation
of this Saudi Arabian state-run company to $ 1.88 trillion. In this way it has
become the world's highest-value listed company. However, the share of shares
available for trading in it is just 1.5 per cent. Aramco has raised a record $
25.6 billion from this IPO. The Crown Prince of Saudi Arabia wanted the company
to get a valuation of around $ 2 trillion and if its shares climbed 10 per cent
on Thursday, the valuation could reach this level.
50 percent more than Apple
The company earned $
111.1 billion in revenue last year. This is double the annual profit of Apple.
In the fiscal year ended September 30, Apple gained a total of $ 5,525 million.
Apple's fiscal year ends in September. Aramco made a profit of $ 6,800 million
in the first 9 months of this year (January-September).
72 percent of India's
GDP
Aramco's valuation of
$ 1.88 trillion is a shocking figure considering that India's total GDP is
around $ 26 trillion. That is, its valuation is around 72 percent of India's
total GDP.
No comments:
Post a Comment