Shares of Saudi Aramco hit all-time high

15/05/2022 Argaam Special
Logo of Saudi Aramco

Logo of Saudi Aramco


Saudi Arabian Oil Co.'s (Saudi Aramco) shares rose today, May15, by 4% to SAR 42.35, recording its highest price close since debut, with a traded volume of about 16.4 million shares.

 

The stock hit its highest price level since debut – after capital was adjusted to add bonus issue shares – at SAR 42.90.

 

Thus, the company's market capitalization rose to about SAR 9.32 trillion ($2.48 trillion), strengthening Aramco’s position as the world's biggest company in terms of value.

 

The company's shareholders approved a 10% capital top-up through a bonus share distribution at 1-for-10, bringing its total of shares to 220 billion, from 200 billion. The stock’s closing price was adjusted to SAR 40.65 on May 12.

 

The oil giant posted today a net profit of SAR 143 billion after minority interest for Q1 2022. It decided to distribute a cash dividend at SAR 0.32 per share.

 

Aramco, established in 1988, is wholly-owned by the Saudi government, with SAR 60 billion fully-paid capital, divided into 200 billion ordinary shares, with no par value.

 

The company debuted on Tadawul in December, 2019.

 

Aramco's main objective is to carry out all energy-related activities, including hydrocarbon and chemical industries as well as complementing industries, inside the Kingdom and abroad.

 

Stock Performance

Highest YTD (SAR)

42.90

May 15

Lowest YTD (SAR)

31.28

July 12 2021

Highest historically (SAR)

42.90

May 15, 2022

Lowest historically (SAR)

24.55

March 9, 2020

Highest trades (mln shares)

459.55

Dec. 12, 2019 (second day of listing)

*Data and quotes amended according to capital adjustments

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