4 November, 2019
 Posted by Ac2ality

Saudi Aramco: the world’s largest IPO

Give me context… Saudi Arabia’s state-owned oil giant Aramco is going public. Aramco produces 10% of the world’s oil supply and is thought to be worth around $1.5 trillion.

Going public?

This way Aramco becomes a publicly-traded company: anyone can buy shares (or parts of the company).

Why would Aramco go public?

Going public increases prestige and helps a company raise money to invest in future operations, expansion, or acquisitions.

Saudi Crown Prince Mohammed bin Salman’s said:

Some of the money Aramco makes, is expected to go toward investing in other industries. And getting more jobs for Saudis. Key, because unemployment in Saudi is over 10%.

What now?

This is thought to be a  very good thing for Saudi Arabia as it will allow the kingdom’s economy to be less dependent on oil (by investing in other industries).

Related Articles: 

Saudi Aramco has been attacked by Iran!

Why so many wars in the Middle East? Iran vs Saudi Arabia.

5 comments on “Saudi Aramco: the world’s largest IPO”

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