Saudi Aramco was the world’s most valuable listed company when it debuted on the Saudi stock exchange in 2019.
Saudi Aramco’s initial public offering began trading on the Tadawul exchange in December 2019. The offering valued the company at about $1.9 trillion, making it the largest initial public offering at that time and briefly placing the oil producer above every other listed company by market capitalization.
The company is officially known as Saudi Arabian Oil Company. Its roots reach back to the concession granted to Standard Oil of California in 1933, and the business became fully state-owned in the 1980s.
A frequent confusion is between Saudi Aramco and the Saudi government: Aramco is a publicly listed corporation, but the Saudi state remains its controlling shareholder. Its valuation can therefore be compared with listed companies such as technology firms.