Saudi Aramco had the world’s largest initial public offering, raising about $29.4 billion after an over-allotment option.
Saudi Aramco listed shares on the Saudi Stock Exchange, or Tadawul, in December 2019. The offering initially raised about $25.6 billion, and an additional share-allocation option increased the total to approximately $29.4 billion.
The offering valued the company at about $1.7 trillion, placing it among the world’s most valuable listed companies. Saudi Aramco remains closely linked to Saudi Arabia’s oil industry and national economic strategy.
An IPO is the first public sale of a company’s shares, while market capitalization is the value of all publicly traded shares at a given price. The IPO’s proceeds are therefore not the same as the company’s total market value.