Saudi Aramco shares to debut on Tadawul in a record time

06/12/2019 Argaam

 

The Saudi Stock Exchange (c) announced today, Dec. 6 that Saudi Aramco will start trading on the market as of Wednesday, Dec. 11.

 

The Securities Depository Center (Edaa) also added the subscribed securities in Aramco’s initial public offering (IPO) to eligible shareholder portfolios.

 

The securities were added to eligible shareholder accounts in less than 18 hours from Saudi Aramco’s final allocation announcement – a record time compared to global markets, where listing and debut is time-to-market.

 

Shares of the giant oil producer will start trading on Tadawul just four days after the share sale close, a record time for Tadawul when compared to other markets, such as Hong Kong Stock Exchange.

 

In addition, Tadawul’s decision to extend the opening auction for Saudi Aramco is an ordinary procedure in the majority of global markets. The move will help determine the price more effectively through giving shareholders more time to place buy and sell orders, which will in turn reflect on the opening price.

 

For more details about Saudi Aramco IPO

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