Saudi Aramco conducted its record-setting 2019 IPO on Tadawul, Saudi Arabia’s stock exchange.
Tadawul is the principal securities market of Saudi Arabia and is based in Riyadh. Saudi Aramco’s shares began trading there in December 2019 after the company offered a small percentage of its equity to public investors.
The listing was a major component of Saudi Arabia’s plans to broaden investment and develop its capital markets under Vision 2030. It also made Aramco one of the largest publicly traded companies by market capitalization.
Tadawul is sometimes confused with the London Stock Exchange or Nasdaq because international banks helped arrange the offering and global investors followed it closely. However, the ordinary shares themselves were listed on Tadawul, where Aramco trades under the symbol 2222.