DUBAI: Shares of Saudi Aramco opened at 34 riyals on Wednesday, their lowest level since the oil giant began trading on Dec 11, after Iran launched missiles on US targets in Iraq.
Saudi stocks also dropped 1.4%, following across-the-board selling in Gulf markets amid escalating tensions between the United States and Iran.
Aramco shares are down about 12% from a peak of 38.70 riyals on Dec 31, but still above the IPO price of 32 riyals that valued the company at US$1.7 tril (RM7 tril). – Jan 8, 2020, Reuters
