Saudi Aramco was valued at about $1.9 trillion when it began trading publicly in December 2019.
Saudi Aramco’s initial public offering took place on the Saudi Stock Exchange, known as Tadawul, in December 2019. The offering priced the company at about $1.7 trillion, and its shares rose after listing, briefly giving it a market value near $1.9 trillion.
The company is Saudi Arabia’s state-controlled oil producer and one of the world’s largest integrated energy businesses. Its operations span exploration, production, refining, chemicals, and distribution. The IPO sold only a small portion of the company, leaving the Saudi government as the dominant shareholder.
Reports sometimes describe different figures because the IPO valuation, first-day market value, and later market capitalization were not identical. Saudi Aramco’s listing was also notable because it was primarily domestic rather than a simultaneous listing on a major international exchange.