Saudi Aramco reached about a $2 trillion market capitalization shortly after its December 2019 stock-market debut.
The Saudi Arabian Oil Company, commonly called Saudi Aramco, began trading on the Saudi Exchange in December 2019. Its shares rose enough after the offering for the company’s implied market value to reach approximately $2 trillion.
Saudi Aramco is one of the world’s largest integrated energy companies and controls much of Saudi Arabia’s oil production and reserves. The Saudi government retained the overwhelming majority of the company after the listing.
This valuation milestone is different from the size of the initial public offering itself. Market capitalization measures the value of all shares, including shares that were not sold to public investors.