Saudi Aramco was valued at about $2 trillion when it debuted on the Saudi stock exchange in December 2019.
The company’s initial public offering sold shares on Tadawul, Saudi Arabia’s stock exchange. Its shares began trading on December 11, 2019, and the offering raised roughly $29.4 billion, making it the largest initial public offering at that time.
Saudi Aramco is the national oil company of Saudi Arabia and is one of the world’s largest producers of crude oil. Its enormous reserves, production capacity, and role in the Saudi economy explain why investors assigned it a valuation far above most listed companies.
The company’s market value briefly moved above $2 trillion during its first trading days. Valuation estimates can change with the share price, so the figure is not the same as the company’s revenue, profits, or oil reserves.