Saudi Aramco joins TASI today
To include the stock in the benchmark index, Tadawul relied on its closing price yesterday – the fifth trading day – that reached SAR 37.75.
On Dec. 1, the main market updated its indices methodology for the development and management of Tadawul equity indices, Argaam reported.
Tadawul applied a new “fast entry” rule, under which shares of significantly massive IPOs join TASI at the close of the fifth trading day.
Saudi Aramco’s shares gained nearly 18% by the close of trading yesterday Dec. 17, compared to the offer price of SAR 32. The company’s market value stood at SAR 7.55 trillion ($2.01 trillion).
The giant oil producer’s weight in the Saudi market reached 12%, taking the second place among heavyweights after Al Rajhi Bank (13.84%).
