Saudi Aramco became the first publicly traded company valued at $1 trillion in the Middle East when its shares began trading in December 2019.
The company’s initial public offering on Saudi Arabia’s Tadawul exchange gave it a valuation of about $1.88 trillion at the offering price, making it one of the largest listed companies in the world. Its business is built around oil exploration, production, refining, and chemicals.
Saudi Aramco’s listing was part of Saudi Arabia’s effort to develop its capital markets and diversify the economy under Vision 2030. The government retained majority ownership after the offering.
This milestone is distinct from the company’s later market-cap fluctuations. Share prices, oil prices, and investor expectations can all change its market value after listing.