- Saudi Arabia’s GDP $779 billion, Aramco’s share rises 10% faster in valuation
- Aramco’s stock rose 20% in two days, raising the market cap by $ 300 billion
- Aramco’s valuation now equal to Apple’s and Amazon’s total market cap
Saudi Aramco became the first company in the world to have a $2 trillion (Rs 142 lakh crore) market cap. Shares of the world’s largest oil company opened 10% higher at 38.70 riyals ($$1032) on Thursday. This increased the market cap by $ $120illion (billion) to $ $2rillion. This is equivalent to the total market cap of Apple ($ 1190 billion) and Amazon ($ 867 billion). Aramco’s valuation is two-and-a-half times Saudi Arabia’s GDP ($ 779.29 billion).
5 big listed companies of the world
Company Market Cap (Dollar) Market Cap (Rupees)
Saudi Aramco 2 Trillion 142 Lakh Crore
Apple 1.19 trillion 84.49 lakh crore
Microsoft 1.15 trillion 81.65 trillion
Alphabet 927 billion 65.82 lakh crore
Amazon 867 billion 61.55 lakh crore
Aramco’s valuation now reaches the target
Saudi Aramco is a government company. Saudi Arabia’s Crown Prince Saudi Mohammed bin Salman wanted Aramco’s valuation of $ 2 trillion even before the IPO, but banks and financial advisors valued it at $ 1.5 trillion to $ 1.7 trillion. The company raised $ 2,560 million (Rs 1.82 lakh crore) by selling 1.5% shares through an IPO at a valuation of 1.7 trillion. The company’s issue came out last month. It was planned for 2016.
6-month shareholders will get 1 bonus share on 10
Aramco’s stock was listed on Wednesday, it had gained 10% on the first day. The Saudi government had introduced plans to offer cheaper loans and bonus shares to local investors to encourage IPOs. The company announced a dividend of $ 75 billion next year to prevent investors from selling. Investors who hold shares for six months from the day of listing will also be given 1 on 10 bonus shares. Its maximum limit will be 100 shares. Investors who could not get shares allotted in the IPO are now buying.
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