Sina Hong Kong stock news on December 11, Saudi Aramco (Saudi Aramco) listed in Riyadh, the capital of Saudi Arabia today, rose 10% on the first day and hit the daily limit.
Saudi Aramco has risen to 35.2 riyals during the local pre-opening bidding period, and its market value has thus reached 1.88 trillion US dollars (approximately 14.66 trillion Hong Kong dollars). 14.66 trillion is equivalent to 3.5 Alibaba, 4.5 Tencent Holdings, equivalent to 9 Moutai.
Foreign media earlier quoted people familiar with the matter as reporting that Saudi Aramco intends to seek an international listing next year, possibly in Japan or China.
Saudi Aramco’s IPO was priced at a cap of 32 riyals, raising US$25.6 billion (HK$199.68 billion), surpassing Alibaba to become the world’s largest IPO, with a company valuation of US$1.7 trillion. However, Saudi Energy Minister Prince Abdulaziz bin Salman said the company's valuation could be higher than $2 trillion.
With the listing of Saudi Aramco, the world's top ten market capitalization companies have experienced a huge earthquake. Saudi Aramco's latest market value is 1.88 trillion US dollars, surpassing Apple in one fell swoop to become the world's largest company by market value. The resulting rankings of the world's top 10 companies by market capitalization are as follows: Alibaba is seventh in market capitalization, Tencent Holdings is tenth, and JPMorgan Chase and Johnson & Johnson are off the list!
Source: Sina Finance
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