Saudi Aramco’s IPO raised a record $25.6 billion “” but an unusually low 1.5% of the company’s shares will actually trade

Saudi Aramco’s IPO raised a record $25.6 billion “” but an unusually low 1.5% of the company’s shares will actually trade

Saudi Aramco's record-shattering IPO made 3 billion shares available to public investors, though the offering only represents 1.5% of the oil giant's total value.

Most large-cap companies offer far more of their stock in IPOs. Apple, Amazon, and Google-parent Alphabet all have more than 84% of their shares listed publicly.

With the majority of Aramco's shares held by Saudi Arabia, government officials retain control of the firm and can lead it to take actions beneficial for the country.

Watch Aramco stock here after it begins trading Wednesday.

Saudi Aramco's record-breaking initial public offering brought 3 billion shares to Saudi Arabia's Tadawul exchange, but the stake only represents 1.5% of the oil company's total value.

The proportion of shares offered in the IPO is significantly lower than average, as other large-cap companies typically list the majority of their shares publicly. Apple, Amazon, and Alphabet all have more than 84% of their shares held by public investors, according to Bloomberg data. Facebook has 98.8% of its shares held by public markets.

Of the 1,000 largest public companies by market cap, only Volkswagen-owned Audi and German utility firm EnBW boast smaller stakes on public markets, Bloomberg reported Tuesday. The firms have just 0.36% and 0.37% of their shares floated,