Shares of Saudi Aramco opened at 34 riyals ($9.06) on Wednesday, their lowest level since the oil giant began trading on December 11, after Iran launched missiles on U.S. targets in Iraq, APA reports citing Reuters.
Saudi stocks also dropped 1.4%, following across-the-board selling in Gulf markets amid escalating tensions between the United States and Iran.
Aramco shares are down about 12% from a peak of 38.70 riyals on December 31, but still above the IPO price of 32 riyals that valued the company at $1.7 trillion.