Saudi Aramco completed the world’s largest initial public offering when it began trading in 2019.
The Saudi Arabian Oil Company listed shares on the Saudi Exchange, known as Tadawul, in December 2019. The offering raised about $25.6 billion, and an additional share-allotment option later increased the total to roughly $29.4 billion.
Saudi Aramco is the national oil company of Saudi Arabia and operates some of the world’s largest oil reserves and production systems. Its listing was part of the country’s economic diversification plans associated with Saudi Vision 2030.
The IPO’s size is often confused with a company’s total market capitalization. An IPO measures money raised by selling shares, while market capitalization measures the value of all publicly traded shares.