Saudi Aramco set the world’s largest IPO record with its 2019 stock-market listing.
Saudi Aramco sold shares on the Saudi Stock Exchange, Tadawul, in December 2019. The offering raised about $25.6 billion, and an additional share-allocation option increased the total to roughly $29.4 billion. The deal surpassed Alibaba’s 2014 IPO record.
The company is Saudi Arabia’s state-controlled oil producer and one of the world’s largest petroleum companies. Its operations cover exploration, production, refining, chemicals, and distribution. The listing sold only a small portion of the company, leaving the Saudi government as the dominant shareholder.
An IPO’s proceeds measure money raised through the offering. They are not identical to market capitalization, which is the value of all outstanding shares at a particular share price. Both figures are frequently discussed when comparing major public listings.