Saudi Aramco’s record 2019 IPO was listed on Tadawul, Saudi Arabia’s stock exchange.
Tadawul is the principal securities market of Saudi Arabia and is based in Riyadh. Saudi Aramco began trading there in December 2019 after the company offered a portion of its shares to public investors. The listing was a major component of Saudi Arabia’s effort to expand domestic capital markets.
The exchange is formally known as the Saudi Exchange, while “Tadawul” remains its widely used Arabic name and brand. It lists shares, debt instruments, exchange-traded funds, and other securities under the oversight of Saudi financial regulators.
A frequent mistake is to associate Saudi Aramco’s IPO with New York or London because those exchanges host many globally famous companies. Saudi Aramco’s ordinary shares, however, debuted on the domestic Saudi exchange, making the offering especially significant for the country’s financial system.