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Saudi Aramco shares touch historical high

Saudi Aramco shares touch historical high

/ Financial News / Wednesday, 23 February 2022 14:44

Saudi Aramco shares rose to their highest price level since debut, at SAR 40.60.

The share is currently up 3%, with nearly 24 million shares worth SAR 1 billion traded.

Thus, the company's market capitalization rose  close to SAR 8.12 trillion ($2.17 trillion).

The oil giant is reviewing some assets to potentially sell in the future, CEO, Amin Nasser has told media.

The development follows oil and gas pipeline deals announced earlier as part of the asset optimization program, according to Nasser.

Most recently, a 4% stake of the oil giant had been transferred to Saudi Arabia's sovereign wealth fund in an $80 billion deal. The oil giant has also hinted at potential investment opportunities in China.

Aramco recently officially launched Prosperity7 – a global financial VC, with a long-term view to support the development of next-generation technologies and business models that will bring prosperity and positive impact on a vast scale.

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