Saudi Aramco was valued at about $1.9 trillion when it launched the world’s largest IPO in December 2019.
Saudi Aramco sold shares on the Saudi Stock Exchange, known as Tadawul, in December 2019. The offering raised about $25.6 billion initially, and an additional share-allotment option later increased the total to approximately $29.4 billion.
The company is Saudi Arabia’s national oil company and is one of the world’s largest integrated petroleum and natural-gas businesses. Its operations span exploration, production, refining, chemicals, and distribution.
The IPO’s valuation was slightly below the $2 trillion target discussed before the listing. The distinction matters: the offering was the largest IPO by money raised, while the company’s total market value was calculated from its share price and shares outstanding.