DUBAI (Reuters) – Shares of Saudi Aramco (SE:) fell below their initial public offering (IPO) price on Sunday for the first time since they began trading in December after the OPEC oil supply cut pact with Russia fell apart on Friday.
Aramco shares were trading at 31.50 riyals ($8.40) at 0705 GMT, down 4.85%, compared to the IPO price of 32 riyals. The Saudi market () plunged 6% in early trade.
Aramco’s record IPO in Decmeber had valued the firm at $1.7 trillion, making it the world’s most valuable company.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.