Value Saudi Aramco Becomes World's First Company With $2 Trillion Market Cap, Valuation Two And a Half Times Saudi Arabia's GDP

• Saudi Arabia's GDP at $779 billion, GDP of just 7 countries in the world exceeds $2 trillion

• Aramco shares climbed 20% in two days, raising market cap by $300 billion

• Aramco's valuation now equals the total market cap of Apple and Amazon


Saudi Arabia. Saudi Aramco became the world's first company with a market cap of $2 trillion (Rs 142 lakh crore). Shares of the world's largest oil company rose 10% on Thursday to open at 38.70 riyal ($10.32). The market cap increased by 120 billion (billion) dollars to $2 trillion. This is equivalent to the total market cap of Apple (1190 billion) and Amazon (867 billion). Aramco's valuation is two and a half times Saudi Arabia's GDP ($779.29 billion).



Aramco's valuation now reaches the target set

Saudi Aramco is a government company. Saudi Arabia's crown prince Saudi Mohammed bin Salman wanted Aramco's valuation of $2 trillion before the IPO, but banks and financial advisers had pegged at $1.5 trillion to $1.7 trillion. The company had raised $2,560 million (Rs 1.82 lakh crore) by selling 1.5% shares through IPOs at a valuation of 1.7 trillion. The company's issue came last month. The scheme was going on from 2016.

Those holding 6 months share will get 1 bonus share at 10

Aramco's share was listed on Wednesday, which climbed 10% on the first day. The Saudi government had brought out a plan to provide cheaper loans and bonus shares to local investors to encourage IPOs. In the absence of investors, the company had announced an annual deposit of 75 billion dollars from next year till 2024. Investors who hold shares for six months from the day of listing will also be given 1 bonus share on 10. The maximum limit will be 100 shares. The investors who have not been able to get shares in the IPO are now shopping.