Saudi Aramco became the first company to reach a $2 trillion market capitalization during its 2019 stock-market debut.
Saudi Aramco began trading on the Saudi Stock Exchange, known as Tadawul, on December 11, 2019. Its initial public offering valued the company at about $1.7 trillion, but a rise in its share price on the following trading day briefly pushed its market capitalization above $2 trillion.
The company is Saudi Arabia’s national petroleum and natural gas company and is headquartered in Dhahran. It has long been regarded as one of the world’s most valuable businesses because of its enormous hydrocarbon reserves and high oil production capacity.
The event is sometimes confused with the company’s IPO valuation. The offering itself did not initially price Saudi Aramco at $2 trillion; the larger figure was reached after trading began.