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Saudi Aramco pushes over $2 trillion valuation

Saudi Aramco’s stock price shot up to 38.7 riyals ($10.32), pushing the company’s valuation to $2.06 trillion on Thursday, hitting the target envisioned by Saudi Arabian authorities, as the oil giant begins its second day of trading on the Saudi Stock Exchange (Tadawul).
The company’s valuation dipped below the $2 trillion mark after opening before recovering in late morning trade.
The company began trading on the Tadawul Wednesday following its record-breaking initial public offering (IPO) which raised $25.6 billion. Aramco’s share price came to market fixed at 32 riyals ($8.53), but shot up immediately after listing to 35.2 riyals ($9.39), the maximum gain permitted by a 10 percent fluctuation limit on the stock. It stayed at 35.2 riyals throughout the day.
The company’s new valuation hits the $2 trillion target set by authorities, following Aramco’s IPO in which the company was priced at $1.7 trillion. The new valuation is in line with Saudi Arabian Crown Prince Mohammed bin Salman’s original 2016 announcement of a partial sale of Aramco when he stated that the company’s true value is $2 trillion
“It’s a great company…well managed and in that regard it’s somewhat different from other government-owned oil companies in the world where many of them have a reputation for inefficiency,” said Jay Ritter, an IPO expert and professor at the University of Florida.
Aramco’s blockbuster IPO comes after a series of lackluster IPOs globally, including WeWork’s scrapped IPO, and lukewarm investor response to Uber’s IPO, which has contributed to negative sentiment globally towards IPOs.
This sentiment is, “largely focused on high growth tech stocks, particularly money losing high tech startups,” said Ritter.
“Nobody is going to confuse Uber technologies with Saudi Aramco,” he added in reference to the oil giant’s IPO performance.
The proceeds from the IPO could rise to $29.4 billion should the oil giant exercise an option to sell 15 percent more stock, a senior banker said on Monday.
Wassim al-Khatib, Head of Investment Banking at National Commercial Bank, said the so-called greenshoe option – a provision that grants the underwriter the right to sell more shares – could be implemented.
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BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
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