Saudi Aramco briefly reached a $2 trillion market capitalization after its December 2019 stock-market debut.
Saudi Aramco, officially Saudi Arabian Oil Company, began trading on the Saudi Exchange in December 2019. On its second trading day, its shares rose to a level that valued the company at approximately $2 trillion, making it one of the largest public companies ever measured by market capitalization.
The offering was part of Saudi Arabia’s Vision 2030 strategy, which aims to diversify the national economy beyond oil. The listing sold a relatively small portion of the company, while the Saudi government retained overwhelming ownership. Because oil prices, production expectations, and investor sentiment strongly affect energy stocks, Aramco’s market value has changed over time.
The company is distinct from Saudi Basic Industries, a chemicals producer in which Aramco acquired a controlling stake, and from oil companies listed in Brazil or elsewhere.