Saudi Aramco became the first company to surpass a $1 trillion valuation through a public offering in 2019.
When Saudi Aramco priced its initial public offering in December 2019, the shares implied a company valuation of about $1.7 trillion. The listing made it the largest IPO ever at that time and briefly made the company the world’s most valuable listed company by market capitalization.
Saudi Aramco is controlled by the government of Saudi Arabia and operates the country’s major oil-production business. Its market value reflects the scale of its reserves, production, refining, chemicals, and energy operations, as well as investor expectations about oil prices and future demand.
This milestone is distinct from companies reaching a valuation threshold through ordinary stock trading. Saudi Aramco crossed $1 trillion as a direct consequence of the share price set for its public listing.