Dubai, Jan 2, 2020 (Issuewire.com) - As expected by Q8 Trade, Saudi Aramco defied all skeptics and made history by reaching the $2 trillion valuation threshold
History was made on December 11th when Saudi Aramco shares went live for public trading on the kingdom's stock exchange. And as expected by Q8 Trade, this record-setting initial public offering delivered several firsts for the world's largest and most profitable company. Shares were still gaining for a third consecutive day on Sunday 15th of December, rising to 37.4 Saudi riyals.
During the first two days of trading on the Tadawul, the IPO's performance was outstanding:
- On the first day, Saudi Aramco managed to reach the session percentage cap on price moves. The shares hit 35.2 Saudi riyals which are 10% above the set IPO shared price of 32 Saudi riyals.
- On the second day, Saudi Aramco's shares continued to make strong gains and settled at 36.8 Saudi riyals by the end of the session.
In the time span of a few days only, the listing of 1.5% of Saudi Aramco reached the $2 trillion market cap putting it well above Amazon, Microsoft, and even Apple. This $2 trillion figure is a milestone supporting Vision 2030 as set by Saudi Crown Prince Mohammed bin Salman, which has for main objective to diversify Saudi's economy from its dependence on oil.
Now that this largest-ever IPO was proven immensely popular within the kingdom, Saudi Aramco's shares joined the Tadawul index and global benchmarks. As we are expecting a high additional demand, Q8 Trade, the online CFD trading platform is inviting you to watch in replay its Saudi Aramco webinar, which covers:
- The IPO effects, stages, and pricing
- The Tadawul Index
- CFDs vs share trading
- How to recognize market opportunities using charts
The webinar is accessible to both Q8 Trade clients and the general public and is completely free of charge.
Q8 Trade aims to empower their clients by giving them the tools and information required to make educated decisions about their investments. As such, this webinar is meant to help traders, both beginners and experimented, to take advantage of the market opportunities created by Saudi Aramco with greater competence.
About Q8 Trade:
Q8 Trade is an online brokerage service, managed by Al Manara Capital, and regulated by the Jordan Securities Commission (JSC) under Company national number 200173579. Q8 Trade has received international recognition for its credibility by Finance Derivative with the 'Most Trusted Trading Platform MENA 2019' award.
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