Saudi Aramco was the first company headquartered in Saudi Arabia to reach a $1 trillion market capitalization.
Saudi Aramco reached a valuation of roughly $1.9 trillion when its shares began trading on the Saudi Stock Exchange in December 2019. Its initial public offering was the largest in history at the time, raising about $29.4 billion after an additional share option was exercised.
The company is one of the world’s largest integrated oil and gas businesses. It explores for and produces hydrocarbons, operates refineries, and sells fuels and petrochemicals around the world.
Saudi Aramco’s listing was part of Saudi Vision 2030, an economic program intended to diversify the country beyond oil. Its shares trade locally under the ticker 2222, while the Saudi government remains the dominant shareholder.