Which company carried out the world’s largest initial public offering in 2019?

Saudi Aramco carried out the world’s largest initial public offering in 2019.

Saudi Aramco listed shares on the Saudi Stock Exchange, known as Tadawul, in December 2019. The offering raised approximately $25.6 billion, making it the largest IPO ever completed at that time. The company later exercised an over-allotment option, bringing the total to about $29.4 billion.

The listing drew global attention because Saudi Aramco is one of the world’s largest oil producers and is central to Saudi Arabia’s economy. Its debut valuation was close to $1.9 trillion, placing it immediately among the world’s most valuable listed companies.

Alibaba had previously held the record for the largest IPO, raising about $25 billion in 2014. An IPO is a primary share sale that allows a private company, or a state-owned company in part, to become publicly traded.