Saudi Aramco, one of the world's largest companies by market cap, began trading publicly after its IPO in 2019.
The initial public offering took place on the Saudi Exchange, also known as Tadawul, in December 2019. The company offered shares representing a small portion of its ownership, while the Saudi government remained the controlling shareholder. The flotation attracted enormous international attention because of Aramco's vast oil reserves and profitability.
Saudi Aramco's public listing is often described as the world's largest IPO by proceeds. Its shares began trading in Riyadh rather than first listing in New York or London, as had sometimes been speculated before the offering. The listing also made the company one of the world's most valuable publicly traded businesses.
The IPO date is different from Aramco's much older corporate history. The company traces its origins to an oil concession granted in 1933 and became fully Saudi-owned in the 1980s.