Investor interest in Saudi Aramco's shares during its second day of trading managed to put the company's market valuation over Saudi Crown Prince Mohammed bin Salman's previously criticized $2 trillion target.

The first day of trading saw Saudi Aramco's stock prices surging by 10 percent, hitting the domestic exchange's daily limit. As the trading began on the second day, share prices rose by as much as 8 percent in early Thursday.

Share prices reached $10.30 per piece, essentially valuing the company at over $2 trillion. This makes Saudi Aramco the most valuable listed company in the world, comfortably ahead of both Apple and Microsoft.

Saudi Aramco initially expected to hit a market valuation of $1.7 trillion at the high end of its initial public offering (IPO) price range. Its initial expectations were aligned with the valuation previously announced by banks and analysts prior to the IPO.  

The state-owned oil and gas giant listed just 1.5 percent of its total stake during its IPO on Wednesday. Based on the prices of the stock on Thursday, total shares owned by investors are now worth around $30 billion.

Hitting the $2 trillion-mark is a big win for Saudi Arabia and Prince Mohammed as it essentially proved their initial claims right. When Prince Mohammed first floated the idea of publicly listing the company four years ago, he claimed that the company was worth more than $2 trillion.

Prince Mohammed's claim garnered a lot of criticism in the financial world, with most exclaiming that it was impossible for the company to be worth that much. Initial analyst estimates only pegged the company's worth to be around $1.5 trillion.

While it managed to exceed its targets with the IPO, some investors have stated that the company had priced its shares to high when compared to its rivals such as Chevron and Exxon Mobil. However, analysts have argued that Saudi Aramco's promise to pay a dividend of $75 billion does justify the premium valuation.

Listing a portion of the company's stake is part of Saudi Arabia's Vision 2030 initiative, which is aimed at reducing the country's dependence on oil. Prince Mohammed plans to use the proceeds of the IPO to boost the country's various industries, including sectors such as education, infrastructure, tourism, and health, in order to diversify its economy.

The company's IPO is currently only limited to Saudi citizens and international investors who were invited to take part in the sale. Saudi Aramco did previously mention that it plans to list its shares overseas. However, details regarding the exact exchange it will choose and the pricing of its international shares have yet to be determined.