Shares of Saudi Aramco hit all-time high

Logo of Saudi Aramco

Saudi Arabian Oil Co.'s (Saudi Aramco) shares rose today, May15, by 4% to SAR 42.35, recording its highest price close since debut, with a traded volume of about 16.4 million shares.

The stock hit its highest price level since debut – after capital was adjusted to add bonus issue shares – at SAR 42.90.

Thus, the company's market capitalization rose to about SAR 9.32 trillion ($2.48 trillion), strengthening Aramco’s position as the world's biggest company in terms of value.

The company's shareholders approved a 10% capital top-up through a bonus share distribution at 1-for-10, bringing its total of shares to 220 billion, from 200 billion. The stock’s closing price was adjusted to SAR 40.65 on May 12.

The oil giant posted today a net profit of SAR 143 billion after minority interest for Q1 2022. It decided to distribute a cash dividend at SAR 0.32 per share.

Aramco, established in 1988, is wholly-owned by the Saudi government, with SAR 60 billion fully-paid capital, divided into 200 billion ordinary shares, with no par value.

The company debuted on Tadawul in December, 2019.

Aramco's main objective is to carry out all energy-related activities, including hydrocarbon and chemical industries as well as complementing industries, inside the Kingdom and abroad.

*Data and quotes amended according to capital adjustments