Saudi Arabia's oil company Aramco began trading for the first time on Wednesday, gaining 10% in its first moments on the market in a dramatic debut that pushed it's value to USD 1.88 trillion, higher than any other listed company in the world.
Saudi Aramco's much-anticipated initial public offering will begin on November 17, the company's prospectus said, without revealing the size of the stake sale or the pricing range.
An explosion and fire has struck a major Saudi Aramco oil processing facility in the kingdom's east, a Saudi-owned satellite channel reported Saturday, without offering a cause for the blast.
"This is the biggest foreign investment in the history of Reliance," Mukesh Ambani said. "It is also amongst the largest foreign investments ever in India."