Saudi Aramco became the first company to reach a $2 trillion market capitalization after its 2019 stock-market listing.
Saudi Aramco shares began trading on the Saudi Exchange in December 2019. On the second day of trading, the company’s valuation reached approximately $2 trillion, a target strongly associated with the company before the initial public offering.
Saudi Aramco is Saudi Arabia’s state-controlled oil company and one of the world’s largest integrated energy businesses. Its operations include crude-oil production, refining, chemicals, pipelines, and energy marketing. The company’s valuation is therefore closely watched alongside oil prices and global energy demand.
The $2 trillion figure was not permanent. The share price later moved below that level, and other companies reached or exceeded comparable valuations. Saudi Aramco’s listing remained one of the largest initial public offerings in financial-market history.