Saudi Aramco shares hit highest close since November 2022

Logo of Saudi Aramco

Shares of Saudi Aramco rose, today, April 17, by 5% to SAR 34.65 each — the highest close since November 2022, with about 12.6 million shares traded on the Saudi Exchange (Tadawul).

The stock hit an all-time high today at SAR 34.75.

Crown Prince Mohammed Bin Salman said earlier this week that a 4% stake in the oil major was transferred from state ownership to Sanabil Investments, which is wholly owned by the Public Investment Fund (PIF), data compiled with Argaam showed.

Saudi Aramco was originally established by virtue of a royal decree issued on Nov. 13, 1988, as wholly owned by the government, with a fully paid share capital of SAR 75 billion, divided into 220 billion ordinary shares with no par value.

Saudi Aramco’s shares listed on Tadawul in December 2019.

The oil major is engaged in all energy-related business activities including hydrocarbons, chemicals and other associated and complementary industries, or any other activity, in or outside the Kingdom.