Saudi Aramco was valued at about $1.9 trillion when it began trading publicly in 2019.
Saudi Aramco launched its initial public offering on the Saudi Exchange in December 2019. The offering made it the largest initial public offering in history at that time and valued the company at approximately $1.9 trillion, close to the $2 trillion target discussed by Saudi leaders.
The company is formally known as Saudi Arabian Oil Company and is headquartered in Dhahran. It operates across oil exploration, production, refining, chemicals, and distribution, giving it an unusually broad position in the global energy industry.
A company’s IPO valuation can differ from later market capitalization because the share price changes after listing. Saudi Aramco’s listing also differed from many giant technology-company valuations because its business is centered on petroleum reserves and energy infrastructure rather than digital products.