Listing Aramco on Tadawul not only thwarted thorny disclosure requirements, but was also a symbolic win for MBS’ nationalist vision of his country’s future. The sale of Aramco put the Saudi stock exchange on the global map. Saudi’s stock exchange was now trading a volume of market capitalization that was equivalent to that of Germany’s. This was a moment of great pride in Saudi Arabia.

https://time.com/5748769/saudi-aramco-ipo-valuation/