Saudi Aramco became the world's largest public company by market capitalization after its 2019 initial public offering.
Saudi Aramco is Saudi Arabia's state-controlled oil and natural-gas company. Its roots reach back to the California-Arabian Standard Oil Company, founded in 1933; the business was renamed Saudi Aramco after Saudi Arabia completed its ownership acquisition in the 1980s.
The company listed shares on the Saudi Exchange in December 2019. The offering raised about $25.6 billion, making it the largest initial public offering at the time, although later share sales and market movements changed the ranking. Aramco remains distinct from ADNOC, the United Arab Emirates' national oil company, and from publicly traded international majors such as Shell and TotalEnergies.
Its enormous valuation reflects its giant hydrocarbon reserves, large-scale production, refining operations, and importance to Saudi Arabia's economy.