December 24, 2019 / 1:48 PM / in 2 months

Goldman may stabilize Saudi Aramco shares following IPO

An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. REUTERS/Ahmed Yosri NO RESALES. NO ARCHIVES.

DUBAI (Reuters) - Saudi Aramco (2222.SE) 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.

The stabilization period will end on Jan. 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 Dec 12.

Reporting by Saeed Azhar, editing by Louise Heavens

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