In early December 2019, Aramco raised $25.6 billion for its IPO, which valued the company at $1.7 trillion.

When the stock made its market debut on Dec. 11, the company surpassed its initial valuation and is now worth a staggering $1.9 trillion — putting it well ahead of tech giants Microsoft, Apple and Google.

Aramco also sits comfortably ahead of its global competition in the energy industry. The company is worth $1 billion more than BP, Royal Dutch Shell, Exxon Mobil and Chevron — combined.

The oil monopoly's IPO was meant to help bolster and finance Crown Prince Mohammed bin Salman's Vision 2030 program, aimed at transforming the Saudi economy.

The demand for Aramco stock is very strong, given that only 1.5% of the company’s shares are trading publicly. That leaves Saudi individual and institutional investors salivating for a piece.

Aramco surged again on Dec. 12 and became the first — and only — company to touch $2 trillion in valuation.

Where can I buy Aramco?

Close up of Aramco Services Company building in Houston, Texas, USA
John_Silver / ShutterStock
The Aramco Services Company building in Houston, Texas.

So can you get in on the action? Can you open an investing account and buy some high-flying Aramco stock?

Sorry to break it to you, but — no.

Currently, the company is listed only on the Tadawul, the Saudi stock exchange. Unless you have a Saudi passport, American retail investors aren't able to purchase any shares in the company — possibly not ever. A U.S. listing is currently off the table for the foreseeable future, because the Saudi government wants to avoid U.S. legal jurisdiction.

Aramco has sold 0.5% of its shares to investors, most of whom are Saudi nationals. The remaining 1% were sold to Saudi-based institutional investors. It is rumored that Mohammed bin Salman will offer up to 5% of the company’s shares on the international market.

If you can't get a stake in Aramco, you might want to invest in one of the stocks launched in 2019’s hottest U.S. IPOs.

About the Author

Sarah Cunnane

Sarah Cunnane

Staff Writer

Sarah Cunnane is a staff writer at MoneyWise. She is a writing and marketing professional with an Honors Bachelor's degree in English and Creative Writing from the University of Toronto.

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