Which company launched the largest initial public offering in history in 2019?

Saudi Aramco launched the largest initial public offering in history in 2019.

Saudi Aramco began trading on the Saudi Exchange in December 2019 after selling 1.5% of its shares. The offering raised about $25.6 billion, giving it the record for the largest IPO at the time. An additional share-allotment option later lifted the total to about $29.4 billion.

The company was valued at roughly $1.7 trillion at its IPO price, making it one of the world’s most valuable listed companies immediately after listing. It is the national oil company of Saudi Arabia and is headquartered in Dhahran.

Alibaba’s 2014 listing is a frequent comparison because it was the previous record-holder, raising about $25 billion. Saudi Aramco’s offering was unusual because only a small portion of the company was publicly sold while the Saudi government retained most ownership.