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Saudi Aramco IPO is World’s Largest

Aramco had a successful IPO on the Saudi exchange on December 11th.

  • It raised $25.6B, which makes it the world’s largest IPO ever!  China’s Alibaba had the record previously at a mere $25B.
  • The stock soared 10% on the first day of trading and may have gone higher but Saudi exchange rules cap one day gains to 10%.
  • The next trading day was almost as good which raised the market capitalization to over $2T.  This is more than the market cap of the five biggest international oil companies COMBINED!  Many of these companies are already on our stock list.

 

Fingers crossed that Aramco gets to a U.S. stock exchange.  It has been talked about but no plans yet and will likely to take a while.  We will continue to monitor it and alert you if and when it happens.

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