Saudi Aramco’s 2019 IPO was valued at about $1.7 trillion, making it the largest IPO ever by funds raised.
Saudi Aramco began trading on the Saudi Stock Exchange in December 2019 after selling 1.5% of its shares. The offering raised about 25.6 billion U.S. dollars, and an additional share-allotment option later increased the total to roughly 29.4 billion dollars.
The company is Saudi Arabia’s national oil company and one of the world’s largest oil producers. Its enormous valuation reflected large hydrocarbon reserves, global production, refining, and petrochemical operations.
Some accounts describe Saudi Aramco’s debut valuation as approximately $1.9 trillion rather than $1.7 trillion because the share price rose after listing. The $1.7 trillion figure refers to the valuation implied by the IPO price, while the larger figure reflects the market price soon afterward.