Goldman Could Stabilize Saudi Aramco Shares Following IPO

Saudi Aramco said that Goldman Sachs may stabilize its shares after a record initial public offering earlier this month.

Stabilization agents support the share price by purchasing additional shares on the market, Reuters writes.

The stabilization period will end on January 9, but so far no transactions have been executed, it said in a statement.

Aramco shares ended nearly 0.6% lower at 35.40 riyals ($9.44), above its IPO price of 32 riyals per share, valuing the oil giant at about $1.9 trillion.

The shares have eased after hitting an intraday high of 38.7 riyals on December 12.

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