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Aramco does not raise its head since its IPO and falls to historical lows

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Saudi Aramco He is not having the dreamed debut in the stock market. The Saudi state oil company went out to the parquet with the largest OPV of the history of the market. In the last eight days, the company is on its way to its seventh session in red and already marks minimums below 35.20 rials per share with which it debuted.

The market capitalization of Aramco thus falls from the 1.9 trillion dollars of its debut. It should be remembered that on his first day in the stock market he shot 10%, the maximum allowed in the Riad Exchange.

The stability of oil prices does not seem to act as a sufficient positive catalyst for the title. Another detail to keep in mind is that its actions have barely left the region. 77% of its IPO went to Saudi investors and the rest was placed among regional investors.

Another limit put by the Riyadh Exchange to Aramco was that it could only weigh up to 15% on its indexes in order to reduce the potential dominance of large listed companies. In this regard, Tadawul (the country's stock market) explained that in the event that the weight of a listed company exceeds that threshold "a cap will be applied and the excess will be distributed among the remaining components of the index so that it reaches 100%."

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