Saudi Aramco became the world's most valuable listed company after its December 2019 initial public offering.
The listing put a small portion of the state-controlled oil producer's shares on the Saudi Stock Exchange, known as Tadawul. The offering raised about $25.6 billion and initially valued the company at roughly $1.7 trillion, making it the largest initial public offering at the time.
On its second trading day, Saudi Aramco's valuation reached approximately $2 trillion. That figure briefly placed it above Apple and other technology leaders in global market-capitalization rankings.
The company is officially Saudi Arabian Oil Company, while Saudi Aramco is the familiar English name. Its business spans oil exploration, production, refining, chemicals, and energy logistics, making it much more than a simple measure of crude-oil reserves.