Saudi Aramco shares hit lowest since IPO, down over 2%

DUBAI (Reuters) – Shares of Saudi Aramco (SE:) hit 32.50 riyals ($8.66) in intraday trade on Sunday, the lowest since it began trading in December following a record initial public offering, as oil prices plunged amid worries about the global spread of the coronavirus.

Aramco shares broke past their previous low of 32.60 riyals, but were still above their IPO price of 32 riyals. At 32.50 riyals they were down 2.55% on the day.

The state-owned oil giant raised $29.4 billion in the world’s biggest IPO, by selling 1.7% of the company.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.