Gap Fill - Saudi Aramco IPO - Level 5


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   analysts      biggest      economy      growth      history      idea      individual      later      many      mining      plan      pockets      profitable      range      reliant      reporters      shares      speculators      this      valuation  
Saudi Aramco, the world's oil producer, announced it will float its on the Saudi Stock Exchange. Financial around the world anticipated . It is exciting worldwide. Saudi Aramco will allocate 0.5 per cent of its shares to investors. It could be the largest IPO (Initial Public Offering) in . Investors with deep have until December 4 to snap up shares in the world's most company. The company is valued at up to $2.3 trillion. Its rival, the US oil giant Exxon Mobil, has a of $300 billion.

Saudi Aramco's CEO told that the company's IPO will help diversify Saudi Arabia's . Further share offerings may take place on global stock exchanges. Saudi Arabia is heavily on oil. It needs other areas of . The IPO is part of a to reform the kingdom's economy. This plan is the of Saudi's Crown Prince Mohammed bin Salman. He hopes it will boost areas of the economy and society. The Crown Prince is heading the development of a of non-oil industries, like healthcare, and tourism.

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