Saudi Aramco was valued at about $2 trillion when it launched its 2019 initial public offering.
Saudi Aramco priced its IPO at 32 Saudi riyals per share in December 2019, giving the company an initial valuation of approximately $1.9 trillion. The offering took place on the Saudi Stock Exchange, known as Tadawul.
The IPO was historically significant because Saudi Aramco was one of the world’s largest and most profitable companies, supported by enormous oil reserves and production capacity. The Saudi government remained the company’s dominant shareholder after the listing.
The valuation is often discussed alongside Apple’s later public-market milestone. Saudi Aramco was not the first company to reach $2 trillion through ordinary stock-market trading; its figure was established at the time of its IPO pricing.