Saudi Aramco became the first publicly listed company to exceed $2 trillion in market value.
The Saudi Arabian Oil Company reached the milestone during intraday trading on December 11, 2019, its second day on the Saudi Stock Exchange. Its initial public offering was priced at 32 Saudi riyals per share, giving the company a valuation of about $1.7 trillion at listing.
Saudi Aramco is one of the world’s largest integrated energy companies and controls enormous oil reserves and production operations. Its valuation is closely connected to oil prices, production expectations, dividends, and the strategic importance of Saudi Arabia’s petroleum sector.
The record is sometimes confused with Apple’s later $2 trillion closing milestone. Saudi Aramco reached the higher figure intraday, while market-cap rankings can change as prices move throughout each trading session.