Saudi Arabia's state oil company Saudi Aramco listed on the Riyadh stock exchange in December 2019, raising 25.6 billion dollars in what became the largest IPO in history, valuing the company at approximately 1.7 trillion dollars. The offering, central to Crown Prince Mohammed bin Salman's economic diversification plans, sold only a small fraction of the company's shares and drew most investor demand from domestic and regional buyers rather than the international investors initially targeted.
Facts
Event TypeInitial public offering 1 Cross-Tradition Connections
Associated With
The Saudi Aramco December 2019 initial public offering, the largest in history at over 25 billion dollars raised, is a finance-practice case study in state-owned enterprise privatization and valuation.
Saudi Arabian Oil Company (Saudi Aramco) is the company that listed on the Tadawul exchange in this 2019 initial public offering, the largest IPO in history at the time.
Sources
1. Wikipedia, Saudi Aramco IPO
Wikipedia2019 IPO section, opening paragraphQuote, 2019 IPO section, opening paragraph
Since around 2018, Saudi Arabia had been considering to put a portion of Saudi Aramco's ownership, up to 5%, onto public trading via a staged initial public offering (IPO), as to reduce the cost to the government of running the company.
1. Wikipedia, Saudi Aramco IPO
1. Wikipedia, Saudi Aramco IPO
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