Aramco, Saudi Arabia’s Oil and Gas company, listed as the world’s most profitable company is now the largest publicly-traded company globally.
Despite suffering a fire incident recently the market listing was in no way affected. the shares are up 4.5% on just the second day of trading.
Aramco hit an all-time high market capitalization of approx $2 trillion ($1.98 trillion) which was the initial target the Saudi Crown Prince, Mohammed bin Salman set when he first announced in 2015.
Aramco’s IPO success is cringeworthy as the amount that was publicly listed is only 1.5% and that amount is far greater than the market capitalization of Apple, Microsoft and other such big companies who have over 80% of their shares publicly listed.