Saudi Aramco began trading shares on the Saudi Stock Exchange in 2019.
The company’s initial public offering launched on the Saudi exchange, known as Tadawul, in December 2019. The offering sold 1.5% of the company and raised about $25.6 billion, making it one of the largest initial public offerings ever recorded at the time.
Saudi Aramco is the national oil company of Saudi Arabia and traces its corporate history to an oil concession granted to Standard Oil of California in 1933. Its name is derived from Arabian American Oil Company, the earlier operating company.
The Tadawul listing is distinct from the company’s later debt and international-market activity. It also differs from the market capitalization rankings that fluctuate daily with share prices.