Saudi Aramco, one of the world’s largest companies by market capitalization, is listed on Tadawul.
Tadawul is the stock exchange of Saudi Arabia, officially known as the Saudi Exchange. Saudi Aramco began trading there in December 2019 after its initial public offering. The listing was a major part of Saudi Arabia’s economic-diversification plans and gave public investors an ownership stake in the state-controlled oil company.
Saudi Aramco remains majority owned by the Saudi government. Its valuation is strongly influenced by crude-oil prices, production expectations, refining operations, and the company’s large hydrocarbon reserves. These factors distinguish it from technology companies whose valuations depend more heavily on software, advertising, or semiconductor demand.
Tadawul is sometimes confused with the company’s headquarters location or with international exchanges where some Saudi-linked securities may be available. Aramco’s main ordinary-share listing is on Saudi Arabia’s own exchange.