If someone would’ve asked me about the wealthiest company in the world, I would probably say Google or Apple because of their huge market share. 

But to my disappointment, that is not the case anymore. 

Marketing Land

Recently, Saudi Arabia’s state-owned oil company, Aramco, is making all the noise in the market. 

And according to Vox, with a $1.7 trillion market cap Aramco is planning to go public. 

Going public turns a private company into a publicly-traded and owned entity. This is usually done to raise capital in hopes of expanding. 

Market Watch

With a profit of $111 billion, Aramco was the most profitable firm in 2018 followed by Apple, which made $60 billion that year. 

After this record-breaking feat, Aramco officially announced its plan to go public on November 3.

Deal Street Asia

Giving away 1.5% of the company’s shares, the world’s biggest initial public offering (IPO) is set to offer a blockbuster offering worth between $24 billion and $25.6 billion. 

If everything goes as planned, they’ll beat Chinese e-commerce giant Alibaba’s record $25 billion New York stock market debut in 2014.

Ventures On Site

For institutional investors the public offer opened on November 17 and for retail investors, the issue will open on November 28.