Since 1975
  • facebook
  • twitter
  • Home
  • Saudi Aramco briefly becomes world’s top-valued company as shares surge

Saudi Aramco briefly becomes world’s top-valued company as shares surge

(Shutterstock)
(Shutterstock)
Short Url:
10 May 2022 08:05:51 GMT9
10 May 2022 08:05:51 GMT9

Salma Wael

RIYADH: Saudi Aramco briefly became the world’s top-valued company as its shares soared to yield a SR9.24 trillion ($2.463 trillion) market cap on Tuesday.

Shares of the oil giant hit SR46.2 in early trading, pushing its market valuation higher than that of tech major Apple, valued at $2.461 trillion, according to data by Bloomberg.

Aramco’s stock price slightly retreated later in the day to trade at SR46.05 as of 11:53 a.m. Saudi time, implying a market valuation of SR9.21 trillion.

With the latest share movement, the company is now the second-largest firm by market cap after Apple.

Aramco has been constantly hitting record highs, thanks to strong oil prices that continue to soar to date. 

Most Popular
Recommended

return to top