Shares of Saudi Aramco down 1.7% in late afternoon trade on Sunday

Shares of Saudi Aramco were down 1.7% in late afternoon trade on Sunday, hitting 34.55 riyals ($9.21) per share, its lowest level since it started trading last month after a record initial public offering (IPO).

The shares reacted to across-the-board selling in Gulf markets after Iranian military commander Qassem Soleimani was killed on Friday in a U.S. drone strike on his convoy at Baghdad airport, reports Reuters.

  Learn about the COVID-19 pandemic from News Hour  

Aramco was trading above its IPO price of 32 riyals per share, but was down 10.7% since hitting an intraday high of 38.70 riyals on Dec 31.

Follow News Hour
News Hour Correspondent

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments
Scroll Up
%d bloggers like this: