Saudi Aramco shares hit lowest since IPO, down 1.7%

Published January 5, 2020, 12:00 AM

by manilabulletin_admin

By Reuters

DUBAI – Shares of Saudi Aramco were down 1.7% in late afternoon trade on Sunday, hitting 34.55 riyals ($9.21) per share, its lowest level since it started trading last month after a record initial public offering (IPO).

FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. (REUTERS/Maxim Shemetov/FILE PHOTO/MANILA BULLETIN)

The shares reacted to across-the-board selling in Gulf markets after Iranian military commander Qassem Soleimani was killed on Friday in a US drone strike on his convoy at Baghdad airport.

Aramco was trading above its IPO price of 32 riyals per share, but was down 10.7% since hitting an intraday high of 38.70 riyals on Dec 31.

 
CLICK HERE TO SIGN-UP
 

YOU MAY ALSO LIKE

["business","business"]
[951683,3000422,3000416,3000407,3000398,3000385,3000354]