Saudi Aramco was valued at about $1.9 trillion at its 2019 stock-market debut.
Saudi Aramco’s shares began trading on the Saudi Stock Exchange in December 2019. The initial valuation was approximately $1.7 trillion, and a rise in the share price soon pushed the company’s market capitalization close to $1.9 trillion.
The company’s enormous valuation reflected its reserves, production capacity, refining operations, and importance to Saudi Arabia’s economy. It also made Saudi Aramco one of the most valuable publicly traded companies in the world.
The figure should not be confused with the company’s private or state ownership. Market capitalization refers only to the value implied by publicly traded shares multiplied by the total number of shares.