Saudi Aramco became the largest company to go public when it listed shares in 2019.
Saudi Aramco began trading on the Saudi Stock Exchange, known as Tadawul, in December 2019. Its initial public offering valued the company at about $1.7 trillion, making it the largest initial public offering ever at that time.
The company is Saudi Arabia’s state-owned oil giant and is formally known as Saudi Arabian Oil Company. It controls enormous petroleum reserves and operates across exploration, production, refining, chemicals, and distribution.
Saudi Aramco’s IPO was smaller than the 5% public offering originally discussed in some plans. The listing nevertheless attracted global attention because of the company’s scale and because it briefly approached a $2 trillion market valuation after trading began.