Saudi Aramco reached a valuation of about $1.9 trillion in its 2019 stock-market debut.
The company listed shares on the Saudi Exchange in December 2019. Its initial public offering raised billions of dollars and made it the largest initial public offering at the time. The valuation was calculated from the offering price and the company’s total shares.
Saudi Aramco is Saudi Arabia’s state-controlled oil company and one of the world’s largest petroleum producers. Its listing created an unusually valuable publicly traded energy company, although only a small portion of the company was offered to public investors. Its market value has changed with oil prices and share trading.