Saudi Aramco became the largest company listed on a stock exchange after its 2019 initial public offering.
Saudi Aramco began trading on the Saudi Stock Exchange, or Tadawul, in December 2019. The IPO valued the company at about $1.7 trillion and made it the world’s largest initial public offering by funds raised at the time.
The company is formally known as Saudi Arabian Oil Company and is headquartered in Dhahran, Saudi Arabia. It operates across oil exploration, production, refining, chemicals, and energy-related businesses. The Saudi government remains its controlling shareholder.
Saudi Aramco is often compared with technology giants such as Apple and Microsoft because market-capitalization rankings can place energy and technology companies side by side. Its valuation, however, is especially sensitive to oil prices, production expectations, and global energy demand.