Saudi Aramco on Sunday confirmed it planned to list on the Riyadh stock exchange, describing it as a "milestone" in the history of the energy behemoth.
Depending on the size of the sale and Aramco's valuation, it could be the world's largest initial public offering (IPO).
Chinese e-commerce giant Alibaba still holds the record with a USD 25 billion IPO in New York in 2014. Alibaba is also aiming to raise another USD 20 billion if it goes ahead with plans to list on the Hong Kong stock market.
Here is a list of some of the other biggest IPOs to date:
- Multinational conglomerate SoftBank raised USD 23.5 billion via the IPO of its mobile unit in 2018, in Japan's largest stock offering.
- AgBank (USD 22.1 billion). Agricultural Bank of China made its market debut in 2010 in Hong Kong and Shanghai.
- ICBC (USD 21.9 billion). Industrial and Commercial Bank of China went public in 2006, also trading on the Hong Kong and Shanghai markets.
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- AIA Group (USD 20.5 billion). A unit of US insurance giant AIG was spun off in 2010 on the Hong Kong exchange.
- Visa Inc. (USD 19.6 billion). The US card payment giant went public in New York in 2008.
- NTT DoCoMo (USD 18.4 billion). The Japanese mobile operator, spun off from NTT, made its market debut in Tokyo in 1998.
- General Motors (USD 18.1 billion). The US auto giant returned to the stock market in New York and Toronto in 2010, a year and a half after a government-led rescue.
- Enel (USD 17.4 billion). The Italian energy group began trading in 1999 in Milan and New York.
- Facebook (USD 16 billion). The world's leading social network was the largest tech sector IPO in 2012 in New York.
- NTT (USD 13.6 billion). The former state-owned Nippon Telegraph & Telephone Corp made a 1986 market debut in Tokyo.
- Deutsche Telekom (USD 13 billion). The German telecom giant hit the market in 1996, trading in Frankfurt, New York and Tokyo.
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