Saudi Aramco became the first Middle Eastern company valued above $2 trillion after its 2019 public offering.
Saudi Aramco’s shares began trading on the Saudi Stock Exchange, Tadawul, in December 2019. The company’s valuation rose above $2 trillion during its early trading period, making it one of the world’s most valuable publicly traded companies.
Saudi Aramco is the national oil company of Saudi Arabia and traces its corporate history to the discovery and development of the country’s oil resources. It remains closely associated with Saudi government ownership and the national economy.
The company’s valuation is especially sensitive to expectations about oil prices, production, reserves, and energy demand. Its public listing was much smaller than the total value of the company because the government retained most of the shares. This differs from saying that all of Saudi Aramco was sold to public investors.