Saudi Aramco had an initial public offering valuing it at about $1.9 trillion in December 2019.
Saudi Aramco began trading on the Saudi Stock Exchange, or Tadawul, in December 2019. The offering sold shares at 32 Saudi riyals each and implied a company valuation of approximately $1.9 trillion. It was widely described as the largest initial public offering by proceeds at the time.
The company is formally known as the Saudi Arabian Oil Company and is headquartered in Dhahran. It is majority-owned by the Saudi Arabian government, so only a portion of its shares was offered to public investors.
The valuation is often confused with the amount raised. The IPO raised about $25.6 billion initially, with an additional overallotment later increasing the proceeds. Saudi Aramco’s market value can move with its share price, oil-market expectations, production policy, and investor views of the energy transition.