Saudi Aramco reached an approximately $2 trillion valuation during its 2019 stock-market debut.
Saudi Aramco began trading on the Saudi Stock Exchange, or Tadawul, in December 2019 after selling shares to the public. Its initial public offering was the largest in history at the time, raising about $25.6 billion. A subsequent additional share sale increased the total raised to about $29.4 billion.
The company is formally known as Saudi Arabian Oil Company and is majority owned by the government of Saudi Arabia. It operates the world's largest crude-oil reserves and is one of the largest integrated energy companies.
The valuation was an estimate based on the company's share price and shares outstanding. It is often compared with technology companies such as Apple, but the businesses differ substantially: Aramco's results are closely tied to oil prices, production levels, and global energy demand.