Saudi Aramco’s stock-market value briefly exceeded $2 trillion after its 2019 public listing.
Saudi Aramco reached roughly $2 trillion in market capitalization during its second day of trading on Tadawul in December 2019. The company’s shares had risen to the upper end of the valuation target associated with its initial public offering.
Saudi Aramco operates across oil exploration, production, refining, chemicals, and energy distribution. Its enormous oil reserves and production capacity made it a uniquely large company even before becoming publicly traded.
The valuation was brief and market-dependent, because a market cap moves with the share price. This fact is separate from the company’s initial-public-offering size: the IPO raised about $29.4 billion after an over-allotment option, while Alibaba’s 2014 offering remains famous for its much larger global IPO record.