Markets

Apple dethrones oil giant Saudi Aramco as the world’s most valuable company

Apple shares surged as much as 7% Friday following a blockbuster earnings report Thursday. The tech company’s market capitalisation briefly overtook Saudi Aramco’s Friday, dethroning the oil giant as the most valuable company in the world. Watch Apple and Saudi Aramco trade live on Markets Insider. Read more on Business […]
Apple dethrones oil giant Saudi Aramco as the world’s most valuable company
Markets

Saudi Aramco upsizes its record-shattering IPO by $3.8 billion

Saudi Aramco took in an additional $US3.8 billion through its record-breaking IPO by selling more shares to investors, according to a Sunday statement. The oil firm set aside 450 million shares for investors as it gauged pre-IPO demand, and advising firm Goldman Sachs managed the shares for Aramco’s first month […]
Saudi Aramco upsizes its record-shattering IPO by $3.8 billion
Markets

‘Too much, too soon’: A Wall Street firm is urging investors to dump Saudi Aramco’s stock as the company’s valuation spikes above $2 trillion

Saudi Aramco has smashed multiple records since its initial public offering earlier this week. That means investors should take profits now, according to analysts at Bernstein, which forecasts that the company’s valuation could fall as much as 28%. “For investors who have benefited so far, we would take profit here,” […]
‘Too much, too soon’: A Wall Street firm is urging investors to dump Saudi Aramco’s stock as the company’s valuation spikes above $2 trillion
Markets

The Saudi Arabian government invested more than $2 billion in Aramco’s record-shattering IPO — even though the nation swore to become more economically diverse

Saudi Arabian government institutions spent nearly $US2.3 billion on Saudi Aramco’s record-breaking IPO, Bloomberg reported Tuesday. That reliance on local funding sources contrasts with Aramco’s expressed desire to get more economically diverse. The government sold two thirds of shares to institutional investors, and government institutions bought up 13.2% of the […]
The Saudi Arabian government invested more than $2 billion in Aramco’s record-shattering IPO — even though the nation swore to become more economically diverse