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Saudi Aramco finally went up for trade and investors wasted no time rushing to purchase shares.
This valuation was what had been sought by Crown Prince Mohammed bin Salman so everything seems to be going just as hoped.
In just two days of trading, Aramco outranked the world’s largest companies including Apple, the second-largest company in the world with a valuation of $1.19 trillion.
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Aramco Chairman Yasir Al-Rumayyan described the sale as “a proud and historic moment for Saudi Aramco and our majority shareholder, the kingdom.”
The billions raised in the small sale of Aramco will be invested in other sectors in the coming year.
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