Saudi Aramco reached about a $2 trillion valuation when its shares began trading publicly in December 2019.
Saudi Aramco’s initial public offering took place on the Saudi Stock Exchange in December 2019. On the second day of trading, its share price reached the level that valued the company at approximately $2 trillion, making it one of the largest public-company listings ever recorded.
The company is formally known as Saudi Arabian Oil Company and is headquartered in Dhahran. It is majority-owned by the Saudi government, which retained control after the IPO. The offering sold only a small portion of the company’s total shares.
The valuation was debated because market capitalization depends on the traded price and the number of shares outstanding. It also differs from revenue, profit, reserves, or the government’s total ownership value. Saudi Aramco remains especially important because of Saudi Arabia’s role in global oil production.