Saudi Aramco became the world’s most valuable publicly traded company in 2019 after its listing.
Saudi Aramco began trading on the Saudi Stock Exchange, known as Tadawul, in December 2019. Its initial share sale valued the company at roughly $1.7 trillion, making it the largest publicly traded company by market capitalization at that time.
The company is the national oil company of Saudi Arabia and is formally known as Saudi Arabian Oil Company. It manages extensive petroleum reserves, produces crude oil, and operates refining and chemicals businesses.
Saudi Aramco’s listing was part of Saudi Arabia’s broader economic strategy, including plans associated with Vision 2030. It is important not to confuse market capitalization with the amount raised in an initial public offering: valuation measures the value of all shares, while proceeds measure the money sold shares bring to the company or selling shareholders.