Saudi Aramco became the world's most valuable listed company immediately after its 2019 public listing.
Saudi Aramco began trading on the Saudi Exchange in December 2019 after selling shares to the public. The offering valued the company at about $1.7 trillion, making it the largest company by market capitalization at that point. The listing involved only a small portion of the company, while the Saudi government retained the overwhelming majority of ownership.
Saudi Aramco is one of the world’s largest integrated energy companies and holds extensive oil and gas reserves. Its market value is closely tied to energy prices, production expectations, and investor views of the global transition away from fossil fuels. SABIC is another major Saudi industrial company, but it is not the same corporation; Saudi Aramco acquired a controlling stake in SABIC in 2020.