Rolling coverage of the latest economy and financial news, as Aramco shares begin trading on the Tadawul
- Newsflash: Stock surges 10% as trading begins
- Introduction: Saudi Aramco shares are floating today
- IPO valued Aramco as world’s biggest listed company
- Stock was sold at 32 riyals each
Aramco’s role as the top CO2 producer could (indeed should) deter some investors from taking a stake, if they take the climate emergency seriously.
Andy Critchlow of S&P Global Platts says fund managers will have environmental, social and corporate governance concerns:
Heading into London to talk #AramcoIPO on @CNBC. According to @SPGlobalPlatts news team calculations the world’s largest listed company produces 1.6 billion tons of CO2 annually. Hard for international fund managers to ignore. #ESG pic.twitter.com/CktN5rDy6m
The boss of Aramco, Amin Nasser, is understandably happy about today’s float.
CNBC’s Emma Graham reports:
Aramco CEO Amin Nasser tells reporters in Riyadh “we are happy with the results today & we have seen the market response.. We continue to be the leader globally when it comes to the energy sector & at same time we are looking at sustained & growing dividends to our investors.”