Saudi Aramco’s 2019 IPO raised about $25.6 billion, making it the largest initial public offering at the time.
Saudi Aramco began trading on the Saudi Stock Exchange, known as Tadawul, in December 2019. The company sold shares at an offer price of 32 Saudi riyals each and raised approximately $25.6 billion. A later additional share sale increased the total proceeds associated with the offering.
Saudi Aramco is the state-controlled Saudi Arabian Oil Company and one of the world’s largest oil producers. Its operations cover exploration, production, refining, chemicals, and distribution. The IPO gave public investors a limited ownership stake while the Saudi government retained control.
The offering is often discussed alongside market-capitalization records because Saudi Aramco opened with a valuation near $1.9 trillion and briefly reached about $2 trillion. The IPO record is a different measure: it concerns money raised from newly sold shares, not the total stock-market value of the company.