Which company’s 2019 IPO was the largest in history by money raised at the time?

Saudi Aramco’s 2019 IPO was the largest in history by money raised at the time.

Saudi Aramco’s initial public offering raised about $25.6 billion from the initial share sale and about $29.4 billion after an over-allotment option was exercised. Shares began trading on Tadawul in December 2019, making the listing a major event for Saudi Arabia and global capital markets.

The IPO was part of Saudi Arabia’s effort to broaden investment and support Vision 2030, a national plan aimed at reducing dependence on oil revenues. The offering was mainly marketed to investors in Saudi Arabia and the region rather than being a conventional simultaneous global listing.

Alibaba’s 2014 New York IPO had previously held the record for funds raised, while General Motors’ 2010 offering was also among the largest. These comparisons can differ depending on whether an over-allotment option is included, but Saudi Aramco’s offering set the recognized record in 2019.