Tadawul extends Aramco’s opening auction for 30 minutes

11/12/2019 Argaam

 

State-owned Saudi Aramco starts trading on the Saudi Stock Exchange (Tadawul) today Dec. 11 with the symbol 2222, and a daily price fluctuation limit of ±10%.

 

Therefore, Tadawul decided to extend the opening auction for 30 minutes on the first day of trading.

 

The extension was solely granted to Saudi Aramco, while the opening auction will remain the same for the rest of the securities listed on the main market from 9:30 a.m. until 10:00 a.m. Continuous trading for the rest of listed securities on the main market will commence at 10:00 a.m.

 

The opening auction extension will give investors more time to effectively determine the opening price. Orders at a daily price fluctuation limit of +10% will be received, but will not impact the opening price.

 

Aramco’s initial public offering (IPO) is considered Saudi Arabia’s and the world’s largest share sale ever.

 

Aramco has set the final IPO price at SAR 32 per share, valuing the company at SAR 6.4 trillion ($1.71 trillion).

 

For more details about Saudi Aramco IPO

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