Saudi Aramco had the world's largest initial public offering when it sold shares in December 2019.
The Saudi Arabian Oil Company, commonly called Saudi Aramco, listed shares on the Saudi Stock Exchange, or Tadawul. The offering raised about US$25.6 billion initially, and an additional share-allotment option later increased the total to about US$29.4 billion.
The IPO valued the company at roughly US$1.7 trillion. That valuation immediately placed Saudi Aramco among the world's most valuable publicly traded companies, alongside technology giants such as Apple and Microsoft.
Some sources describe Alibaba's 2014 listing as the largest before Saudi Aramco. PetroChina's 2007 offering is also often mentioned in historical comparisons, but Saudi Aramco's offering exceeded both when measured by proceeds.