Saudi Aramco became the largest publicly traded company by market capitalization at its 2019 initial public offering. Shares began trading on the Saudi Exchange in December 2019 after the company sold a portion of its equity.
Saudi Aramco is the national petroleum and natural-gas company of Saudi Arabia. It is commonly described as one of the world’s largest oil producers and has access to some of the planet’s largest proven crude-oil reserves.
The IPO raised about 25.6 billion U.S. dollars, making it the largest initial public offering at the time. A later additional share sale increased the amount raised by the offering process.
The company’s market value is strongly influenced by oil prices, production expectations, and energy policy. Unlike technology companies, its earnings are closely tied to the global commodity cycle and petroleum demand.