Which energy company had an IPO valuing it at about $1.7 trillion in 2019?

Saudi Aramco had a 2019 IPO that valued the company at about $1.7 trillion.

Saudi Aramco began trading on the Saudi Stock Exchange, known as Tadawul, in December 2019. Its initial public offering sold a small portion of the company and raised about $25.6 billion, making it one of the largest IPOs ever recorded. The offering valued the entire company at approximately $1.7 trillion.

Saudi Aramco is Saudi Arabia’s national oil company and is headquartered in Dhahran. It operates across oil and gas exploration, production, refining, chemicals, and distribution. Its enormous reserves and production scale helped make it one of the world’s most valuable listed businesses.

The valuation is not the same as the amount raised. The IPO proceeds came from selling shares; the $1.7 trillion figure represented the implied value of all company shares.