Saudi Aramco is majority-owned by Saudi Arabia and set a record IPO valuation of $1.9 trillion in 2019.
Saudi Aramco is the national oil company of Saudi Arabia and one of the world’s largest integrated energy producers. Its operations include oil and gas exploration, production, refining, chemicals, and distribution.
The company’s initial public offering took place on the Saudi Stock Exchange in December 2019. The offering raised about $25.6 billion, making it the largest IPO at that time, and the company was valued at roughly $1.9 trillion when trading began.
Saudi Aramco’s valuation is closely tied to oil prices, production expectations, and the strategic importance of its reserves. Its IPO is sometimes described as the world’s largest by money raised, but that distinction later changed when other offerings raised more capital.