Aramco shares close at all-time high

Logo of Saudi Aramco

Shares of Saudi Arabian Oil Co. (Saudi Aramco) hit their highest level since listing, at SAR 40.20 today, Feb. 21.

The stock closed at an increase of 4 at SAR 39.25%, its highest closing since listing, with nearly 40 million shares traded at a total value of 1.6 billion.

Accordingly, Saudi Aramco’s market capitalization reached SAR 7.85 trillion (equivalent to $2.09 trillion).

Saudi Crown Prince Mohammed bin Salman recently announced transferring 4% of the oil giant to the Public Investment Fund (PIF).

Aramco was established in Saudi Arabia by a royal decree on Nov. 13, 1988. The company is fully-owned by the Saudi government with a paid-up capital of SAR 60 billion, divided into 200 billion ordinary shares without face value.

The company was listed on the Saudi market in December 2019.

Aramco’s primary objectives relates to all aspects of energy-related activities, including hydrocarbons, chemicals and other related and complementary industries, or any other activity within or outside Saudi Arabia.