Saudi Aramco was valued at about $2 trillion on the first day of its 2019 stock-market listing.
Saudi Aramco’s shares began trading on the Saudi Stock Exchange on December 11, 2019. The stock rose by the exchange’s daily limit, lifting the company’s market capitalization to roughly $1.88 trillion, commonly rounded in reports to about $2 trillion.
The listing followed years of discussion about selling a minority stake in the company. The IPO raised about $25.6 billion, making it the largest initial public offering ever at that time. The government continued to own most of the company after the sale.
The precise valuation was below the $2 trillion target that had often been discussed before the offering. This distinction matters: headlines frequently rounded the figure, while the reported first-day market capitalization was approximately $1.88 trillion. Aramco remains one of the world’s largest oil and gas companies.