Saudi Aramco became the world's most valuable publicly listed company on its first trading day in December 2019.
Saudi Aramco’s initial public offering valued the company at about US$1.7 trillion, and its shares rose on the first day of trading. The offering took place on Tadawul, Saudi Arabia’s stock exchange, and represented a landmark partial sale of the state-owned oil giant.
The company is formally known as Saudi Arabian Oil Company. It operates across oil exploration, production, refining, chemicals, and distribution, giving it a much broader business than simply extracting crude oil.
Saudi Aramco’s valuation is often compared with technology giants because oil prices, production expectations, dividends, and government ownership all influence investor assessments. Its IPO also became one of the largest public offerings in financial history.