The Reading / Listening - Saudi Aramco IPO - Level 6

Saudi Aramco, the world's biggest oil producer, has announced that it will float its shares on the Saudi Stock Exchange. The news has been much anticipated by financial analysts around the world. The flotation is causing a lot of excitement among speculators worldwide. Saudi Aramco will allocate up to 0.5 per cent of its shares to individual investors. Experts say it could be the largest IPO (Initial Public Offering) in history. Investors with deep pockets have between November 17 and December 4 to snap up shares in the world's most profitable company. The company is valued at up to $2.3 trillion. In comparison, its rival, the US oil giant Exxon Mobil, has a valuation of a mere $300 billion.



Saudi Aramco President and CEO Amin Nasser told the CNBC news agency last week that the company's IPO will help diversify Saudi Arabia's economy. Further share offerings may take place later on stock exchanges in Hong Kong, London, New York and Tokyo. Saudi Arabia is heavily reliant on oil and needs to seek alternative areas of growth. The IPO is part of an ambitious plan to reform the kingdom's economy called "Saudi Vision 2030". This is the brainchild of Saudi's Crown Prince Mohammed bin Salman. He hopes his initiative will revitalize many aspects of the economy and society. The Crown Prince is spearheading the development of a range of non-oil industries, like healthcare, mining and tourism.

Try the same news story at these easier levels:

    Saudi Aramco IPO - Level 4  or  Saudi Aramco IPO - Level 5

Sources
  • https://www.cnbc.com/2019/11/09/saudi-aramco-ipo-prospectus-released.html
  • https://www.foxbusiness.com/markets/saudi-aramco-ipo-an-offer-too-good-to-refuse
  • https://www.reuters.com/article/us-saudi-aramco-ipo-retail/saudi-aramco-targets-sale-of-0-5-of-oil-firm-to-retail-investors-in-ipo-sources-idUSKBN1XJ0AW


Make sure you try all of the online activities for this reading and listening - There are dictations, multiple choice, drag and drop activities, crosswords, hangman, flash cards, matching activities and a whole lot more. Please enjoy :-)



Warm-ups

1. SAUDI ARAMCO: Students walk around the class and talk to other students about Saudi Aramco. Change partners often and share your findings.
2. CHAT: In pairs / groups, talk about these topics or words from the article. What will the article say about them? What can you say about these words and your life?
       oil / producer / float / shares / excitement / speculators / individual / deep pockets /
       news agency / diversify / stock exchange / growth / ambitious / brainchild / economy
Have a chat about the topics you liked. Change topics and partners frequently.
3. SHARES: Students A strongly believe investing in shares is the best way to make money; Students B strongly believe it isn't.  Change partners again and talk about your conversations.
4. FUEL: What are the pros and cons of these fuels? Complete this table with your partner(s). Change partners often and share what you wrote.

MY e-BOOK
ESL resource book with copiable worksheets and handouts - 1,000 Ideas and Activities for Language Teachers / English teachers
See a sample

5. FINANCIAL: Spend one minute writing down all of the different words you associate with the word "financial". Share your words with your partner(s) and talk about them. Together, put the words into different categories.
6. COMPANIES: Rank these with your partner. Put the company you would most like shares in at the top. Change partners often and share your rankings.

  • Saudi Aramco
  • Apple
  • McDonald's
  • Ferrari
  • Chanel
  • Amazon
  • Adidas
  • Mastercard

 

Vocabulary

    Paragraph 1

      1. float a. A person who carries out a detailed examination of something.
      2. anticipated b. Offer the shares of a company for sale on the stock market for the first time.
      3. analyst c. A person who invests in stocks, property, or other ventures in the hope of making a profit.
      4. speculator d. Distribute resources or duties for a particular purpose.
      5. allocate e. Regarded as probable; expected or predicted.
      6. snap up f. A person or thing competing with another for the same aim or to be the best in the same field of activity.
      7. rival g. Buy.

    Paragraph 2

      8. diversify h. Dependent on someone or something.
      9. reliant i. An idea or invention which is considered to be a particular person's creation.
      10. alternative j. Branch out into a greater area with more options or possibilities.
      11. ambitious k. Of one or more things available as another possibility.
      12. brainchild l. An act or strategy intended to resolve a difficulty or improve a situation.
      13. initiative m. Having or showing a strong desire and determination to succeed.
      14. spearheading n. Leading a campaign or project.

 

Before reading / listening

1. TRUE / FALSE: Read the headline. Guess if 1-8 below are true (T) or false (F).

  1. Saudi Aramco is the world's second largest oil producer.     T / F
  2. Saudi Aramco will float 5% of its shares on the Saudi Stock Exchange.     T / F
  3. It could be the largest IPO in history.     T / F
  4. Exxon Mobil is worth more than Saudi Aramco.     T / F
  5. The article says the company CEO spoke to CNN about the IPO.     T / F
  6. A later IPO may take place in Tokyo.     T / F
  7. The IPO is part of a plan for Saudi Arabia to revitalize its economy.     T / F
  8. Saudi's Crown Prince want the country to get into mining more.     T / F

2. SYNONYM MATCH: Match the following synonyms from the article.

  1. anticipated
  2. investors
  3. snap up
  4. rival
  5. valuation
  6. diversify
  7. reliant
  8. ambitious
  9. revitalize
  10. range
  1. branch out
  2. adversary
  3. variety
  4. expected
  5. buy
  6. challenging
  7. reinvigorate
  8. costing
  9. dependent
  10. backers

3. PHRASE MATCH: (Sometimes more than one choice is possible.)

  1. it will float its shares
  2. much anticipated by
  3. The flotation is causing a lot of
  4. Investors with deep
  5. its rival, the US
  6. the company's IPO will help diversify
  7. Further share offerings may
  8. heavily reliant
  9. his initiative will revitalize many
  10. spearheading the development of a
  1. excitement among speculators
  2. aspects of the economy
  3. pockets
  4. oil giant Exxon Mobil
  5. Saudi Arabia's economy
  6. on the Saudi Stock Exchange
  7. on oil
  8. range of non-oil industries
  9. financial analysts
  10. take place later

Gap fill

Put these words into the spaces in the paragraph below.
flotation
individual
mere
producer
allocate
profitable
anticipated
deep

Saudi Aramco, the world's biggest oil (1) ____________, has announced that it will float its shares on the Saudi Stock Exchange. The news has been much (2) ____________ by financial analysts around the world. The (3) ____________ is causing a lot of excitement among speculators worldwide. Saudi Aramco will (4) ____________ up to 0.5 per cent of its shares to (5) ____________ investors. Experts say it could be the largest IPO (Initial Public Offering) in history. Investors with (6) ____________ pockets have between November 17 and December 4 to snap up shares in the world's most (7) ____________ company. The company is valued at up to $2.3 trillion. In comparison, its rival, the US oil giant Exxon Mobil, has a valuation of a (8) ____________ $300 billion.

Put these words into the spaces in the paragraph below.
ambitious
offerings
aspects
reliant
mining
brainchild
diversify
spearheading

Saudi Aramco President and CEO Amin Nasser told the CNBC news agency last week that the company's IPO will help (9) ____________ Saudi Arabia's economy. Further share (10) ____________ may take place later on stock exchanges in Hong Kong, London, New York and Tokyo. Saudi Arabia is heavily (11) ____________ on oil and needs to seek alternative areas of growth. The IPO is part of an (12) ____________ plan to reform the kingdom's economy called "Saudi Vision 2030". This is the (13) ____________ of Saudi's Crown Prince Mohammed bin Salman. He hopes his initiative will revitalize many (14) ____________ of the economy and society. The Crown Prince is (15) ____________ the development of a range of non-oil industries, like healthcare, (16) ____________ and tourism.

Listening — Guess the answers. Listen to check.

1)  the world's biggest oil producer, has announced that it will ______
     a.  bloat its shares
     b.  gloat its shares
     c.  bleat its shares
     d.  float its shares
2)  The news has been much anticipated by ______
     a.  financial analysis
     b.  financial analysts
     c.  financial analyzes
     d.  financial analyze
3)  The flotation is causing a lot of excitement ______
     a.  among speculates
     b.  among spectators
     c.  among speculators
     d.  among spectacles
4)  the largest IPO (Initial Public Offering) in history. Investors with ______
     a.  deep pockets
     b.  deep wallets
     c.  deep banks
     d.  deep trousers
5)  the US oil giant Exxon Mobil, has a valuation of a ______
     a.  mere $300 billion
     b.  more $300 billion
     c.  mare $300 billion
     d.  mire $300 billion

6)  last week that the company's IPO will help ______ economy
     a.  diversity Saudi Arabia's
     b.  diverse iffy Saudi Arabia's
     c.  dive verse Saudi Arabia's
     d.  diversify Saudi Arabia's
7)  Saudi Arabia is heavily reliant on oil and needs to seek ______
     a.  alternative areas
     b.  alternatively areas
     c.  alternate areas
     d.  alternatives areas
8)  part of an ambitious plan to reform the kingdom's economy called "______"
     a.  Saudi Version 2030
     b.  Saudi Revision 2030
     c.  Saudi Envision 2030
     d.  Saudi Vision 2030
9)  Mohammed bin Salman. He hopes his initiative will ______
     a.  revitalize much aspects
     b.  revitalize many aspects
     c.  revitalize many aspect
     d.  revitalize many respect
10)  a range of non-oil industries, like healthcare, ______
     a.  mining and tourist
     b.  mining and tourism
     c.  meaning and touristy
     d.  mining and tourists

Listening — Listen and fill in the gaps

Saudi Aramco, the world's biggest oil producer, (1) ___________________ it will float its shares on the Saudi Stock Exchange. The news has been much anticipated (2) ___________________ around the world. The flotation is causing a lot of excitement (3) ___________________. Saudi Aramco will allocate up to 0.5 per cent of its shares (4) ___________________. Experts say it could be the largest IPO (Initial Public Offering) in history. Investors with deep pockets have between November 17 and December 4 to snap up shares in the world's (5) ___________________. The company is valued at up to $2.3 trillion. In comparison, its rival, the US oil giant Exxon Mobil, has a valuation (6) ___________________ $300 billion.

Saudi Aramco President and CEO Amin Nasser told the CNBC news agency last week that the company's IPO (7) ___________________ Saudi Arabia's economy. Further share offerings may take place later (8) ___________________ in Hong Kong, London, New York and Tokyo. Saudi Arabia is heavily reliant on oil and needs to (9) ___________________ of growth. The IPO is part of (10) ___________________ to reform the kingdom's economy called "Saudi Vision 2030". This is the brainchild of Saudi's Crown Prince Mohammed bin Salman. He hopes his initiative will (11) ___________________ of the economy and society. The Crown Prince is spearheading the development of a (12) ___________________ industries, like healthcare, mining and tourism.

Comprehension questions

  1. What is the world's largest oil-producing company?
  2. On what stock exchange will Saudi Aramco float its shares?
  3. How much of the company's shares will be offered to individual investors?
  4. When will the IPO end?
  5. How much is the oil company Exxon Mobil valued at?
  6. Which news agency did Saudi Aramco's CEO speak to?
  7. What might take place in Tokyo and Hong Kong?
  8. What did the article say Saudi Arabia was really dependent on?
  9. What is the name of the plan created by Saudi's Crown Prince?
  10. What kind of industries is the Crown Prince heading the development of?




Multiple choice quiz

1)  What is the world's largest oil-producing company?
a) Exxon Mobil
b) Saudi Aramco
c) Shell
d) BP
2) On what stock exchange will Saudi Aramco float its shares?
a) The Tokyo Stock Exchange
b) The London Stock Exchange
c) Wall Street
d) the Saudi Stock Exchange
3) How much of the company's shares will be offered to individual investors?
a) 15%
b) 7.5%
c) 0.5%
d) 5%
4) When will the IPO end?
a) December 4
b) December 8
c) December 14
d) December 24
5) How much is the oil company Exxon Mobil valued at?
a) $30 billion
b) $300 billion
c) $300 trillion
d) $30 trillion

6) Which news agency did Saudi Aramco's CEO speak to?
a) CNBC
b) BBC
c) CNN
d) CBBCNB
7) What might take place in Tokyo and Hong Kong?
a) concerts
b) a company launch
c) a future share offering
d) drilling for oil
8) What did the article say Saudi Arabia was really dependent on?
a) oil
b) stocks
c) sand
d) foreign help
9) What is the name of the plan created by Saudi's Crown Prince?
a) Saudi Sight 2030
b) Saudi Site 2030
c) Saudi Version 2030
d) Saudi Vision 2030
10) What kind of industries is the Crown Prince heading the development of?
a) fossil fuel industries
b) high-tech industries
c) non-oil industries
d) renewable industries

Role play

Role  A – Saudi Aramco
You think Saudi Aramco is the best company to buy shares in. Tell the others three reasons why. Tell them what is wrong with their companies. Also, tell the others which is the worst of these (and why): Apple, McDonald's or Mastercard.

Role  B – Apple
You think Apple is the best company to buy shares in. Tell the others three reasons why. Tell them what is wrong with their companies. Also, tell the others which is the worst of these (and why): Saudi Aramco, McDonald's or Mastercard.

Role  C – McDonald's
You think McDonald's is the best company to buy shares in. Tell the others three reasons why. Tell them what is wrong with their companies. Also, tell the others which is the worst of these (and why): Apple, Saudi Aramco or Mastercard.

Role  D – Mastercard
You think Mastercard is the best company to buy shares in. Tell the others three reasons why. Tell them what is wrong with their companies. Also, tell the others which is the worst of these (and why): Apple, McDonald's or Saudi Aramco.

After reading / listening

1. WORD SEARCH: Look in your dictionary / computer to find collocates, other meanings, information, synonyms … for the words...

'stock'

  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • and 'market'.

  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • • Share your findings with your partners.

    • Make questions using the words you found.

    • Ask your partner / group your questions.

    2. ARTICLE QUESTIONS: Look back at the article and write down some questions you would like to ask the class about the text.

    •Share your questions with other classmates / groups. •Ask your partner / group your questions.

    3. GAP FILL: In pairs / groups, compare your answers to this exercise. Check your answers. Talk about the words from the activity. Were they new, interesting, worth learning…?

    4. VOCABULARY: Circle any words you do not understand. In groups, pool unknown words and use dictionaries to find their meanings.

    5. TEST EACH OTHER: Look at the words below. With your partner, try to recall how they were used in the text:

    • producer
    • news
    • among
    • largest
    • snap
    • mere
    • agency
    • later
    • heavily
    • plan
    • aspects
    • range




    Student survey

    Write five GOOD questions about this topic in the table. Do this in pairs. Each student must write the questions on his / her own paper. When you have finished, interview other students. Write down their answers.

    (Please look at page 12 of the PDF to see a photocopiable example of this activity.)

    Discussion - Saudi Aramco IPO

    STUDENT A’s QUESTIONS (Do not show these to student B)

    1. What did you think when you read the headline?
    2. What images are in your mind when you hear the word 'oil'?
    3. What do you know about Saudi Aramco?
    4. What do you think of oil companies?
    5. What do you think of shares?
    6. What exactly do financial analysts do?
    7. Have you ever speculated on anything?
    8. How deep are your pockets?
    9. What companies would you like shares in?
    10. What is the best company in the world?

    STUDENT B’s QUESTIONS (Do not show these to student A)

    1. Did you like reading this article? Why/not?
    2. What do you think of when you hear the word 'stocks'?
    3. What do you think about what you read?
    4. What do you know about IPOs?
    5. How diversified is the economy of your country?
    6. How important are stock exchanges?
    7. What vision would you like your country to have?
    8. What aspects of your society would you like to revitalize?
    9. What are the most important industries for the future?
    10. What questions would you like to ask the company's CEO?

    Discussion — Write your own questions

    STUDENT A’s QUESTIONS (Do not show these to student B)

    (a) ________________

    (b) ________________

    (c) ________________

    (d) ________________

    (e) ________________

    STUDENT B’s QUESTIONS (Do not show these to student A)

    (f) ________________

    (g) ________________

    (h) ________________

    (i) ________________

    (j) ________________





    Language — Cloze (Gap-fill)

    Saudi Aramco, the world's biggest oil producer, (1) ____ announced that it will float its shares on the Saudi Stock Exchange. The news has been (2) ____ anticipated by financial analysts around the world. The flotation is causing a lot of excitement (3) ____ speculators worldwide. Saudi Aramco will allocate up to 0.5 per cent of its shares to individual investors. Experts say it could be the largest IPO (Initial Public Offering) in history. Investors with deep (4) ____ have between November 17 and December 4 to (5) ____ up shares in the world's most profitable company. The company is valued at up to $2.3 trillion. In comparison, its (6) ____, the US oil giant Exxon Mobil, has a valuation of a mere $300 billion.

    Saudi Aramco President and CEO Amin Nasser told the CNBC news agency last week that the company's IPO will help (7) ____ Saudi Arabia's economy. Further share offerings may take place later on stock exchanges in Hong Kong, London, New York and Tokyo. Saudi Arabia is heavily (8) ____ on oil and needs to seek alternative areas of growth. The IPO is part of an (9) ____ plan to reform the kingdom's economy called "Saudi Vision 2030". This is the brainchild of Saudi's Crown Prince Mohammed bin Salman. He hopes his (10) ____ will revitalize many aspects of the economy and society. The Crown Prince is (11) ____ the development of a (12) ____ of non-oil industries, like healthcare, mining and tourism.

    Which of these words go in the above text?

    1. (a)     had     (b)     gave     (c)     has     (d)     made    
    2. (a)     much     (b)     many     (c)     real     (d)     such    
    3. (a)     among     (b)     between     (c)     each     (d)     surround    
    4. (a)     pockets     (b)     wallets     (c)     banks     (d)     accounts    
    5. (a)     slap     (b)     slurp     (c)     slump     (d)     snap     
    6. (a)     revel     (b)     rebel     (c)     libel     (d)     rival    
    7. (a)     diversify     (b)     acoustically     (c)     deify     (d)     ratify    
    8. (a)     variant     (b)     compliant     (c)     defiant     (d)     reliant    
    9. (a)     ambitious     (b)     project     (c)     monetarily     (d)     investment    
    10. (a)     initiation     (b)     initiative     (c)     initial     (d)     initials    
    11. (a)     spearing     (b)     spearheading     (c)     sparring     (d)     splurging    
    12. (a)     range     (b)     grange     (c)     derange     (d)     orange

    Spelling

    Paragraph 1

    1. ndeoancnu that it will float its shares
    2. much anticipated by financial asnlasty
    3. among supocrtseal worldwide
    4. individual vorestsin
    5. the world's most petrioabfl company
    6. a noataiuvl of a mere $300 billion

    Paragraph 2

    1. Saudi Arabia is heavily ntailer on oil
    2. seek ltaeaetnvri areas of growth
    3. part of an baioumtis plan
    4. He hopes his viiattniie will
    5. tvrezaeili many aspects of the economy
    6. danpesegaihr the development

    Put the text back together

    (...)  on the Saudi Stock Exchange. The news has been much anticipated by financial analysts around
    1  ) Saudi Aramco, the world's biggest oil producer, has announced that it will float its shares
    (...)  Saudi Aramco President and CEO Amin Nasser told the CNBC news agency last week that the company's IPO will
    (...)  spearheading the development of a range of non-oil industries, like healthcare, mining and tourism.
    (...)  IPO (Initial Public Offering) in history. Investors with deep pockets have between November 17
    (...)  to 0.5 per cent of its shares to individual investors. Experts say it could be the largest
    (...)  help diversify Saudi Arabia's economy. Further share offerings may take place later on stock exchanges
    (...)  the world. The flotation is causing a lot of excitement among speculators worldwide. Saudi Aramco will allocate up
    (...)  and December 4 to snap up shares in the world's most profitable company. The company is
    (...)  his initiative will revitalize many aspects of the economy and society. The Crown Prince is
    (...)  valued at up to $2.3 trillion. In comparison, its rival, the US oil giant Exxon Mobil, has a valuation of a mere $300 billion.
    (...)  "Saudi Vision 2030". This is the brainchild of Saudi's Crown Prince Mohammed bin Salman. He hopes
    (...)  in Hong Kong, London, New York and Tokyo. Saudi Arabia is heavily reliant on oil and needs to seek alternative areas
    (...)  of growth. The IPO is part of an ambitious plan to reform the kingdom's economy called

    Put the words in the right order

    1. announced   shares   .   it   float   It   its   will   that
    2. by   has   financial   analysts   .   anticipated   been   news   The
    3. company   .   profitable   up   shares   world's   the   most   in   Snap
    4. to   up   at   company   The   valued   $2   .3tn   .   is
    5. a   Mobil   valuation   mere   has   a   $300bn   .   of
    6. diversify   help   will   Saudi's   The   economy   .   IPO   company's
    7. seek   alternative   areas   It   to   of   needs   growth   .
    8. kingdom's   to   reform   An   the   plan   economy   .   ambitious
    9. the   will   aspects   His   initiative   of   economy   .   revitalize
    10. of   development   Spearheading   of   range   a   industries   .   the

    Circle the correct word (20 pairs)

    Saudi Aramco, the world's biggest oily / oil producer, has announced that it will float / submerge its shares on the Saudi Stock Exchange. The news has been much anticipated / anticipation by financial analysts around the world. The flotation / flotilla is causing a lot of excitement among speculators / spectators worldwide. Saudi Aramco will allocate down / up to 0.5 per cent of its shares to individual investors. Experts say it could be the largest IPO (Initial Public Offering) of / in history. Investors with deep pockets have between November 17 and December 4 to slap / snap up shares in the world's most profitable company. The company is valued at up to $2.3 trillion. In comparison / comparative, its rival, the US oil giant Exxon Mobil, has a valuation of a mere / mare $300 billion.

    Saudi Aramco President and CEO Amin Nasser told / advised the CNBC news agency last week that the company's IPO will help directly / diversify Saudi Arabia's economy. Further share offerings may take / give place later on stock exchanges in Hong Kong, London, New York and Tokyo. Saudi Arabia is heavily rely / reliant on oil and needs to seek / sleek alternative areas of growth. The IPO is part of an ambitiously / ambitious plan to reform the kingdom's economy called "Saudi Vision 2030". This is the brainteaser / brainchild of Saudi's Crown Prince Mohammed bin Salman. He hopes his initiative will opportune / revitalize many aspects of the economy and society. The Crown Prince is spearheading / sparring the development of a grange / range of non-oil industries, like healthcare, mining and tourism.

    Talk about the connection between each pair of words in italics, and why the correct word is correct.

    Insert the vowels (a, e, i, o, u)

    S__ d_ A r_m c_, t h_ w_r l d ' s b_g g_s t __ l p r_d_c_r , h_s _n n__ n c_d t h_t _t w_l l f l__ t _t s s h_r_s _n t h_ S__ d_ S t_c k E x c h_n g_. T h_ n_w s h_s b__ n m_c h _n t_c_p_t_d b y f_n_n c__ l _n_l y s t s _r__ n d t h_ w_r l d . T h_ f l_t_t__ n _s c__ s_n g _ l_t _f _x c_t_m_n t _m_n g s p_c_l_t_r s w_r l d w_d_. S__ d_ A r_m c_ w_l l _l l_c_t_ _p t_ 0 . 5 p_r c_n t _f _t s s h_r_s t_ _n d_v_d__ l _n v_s t_r s . E x p_r t s s_y _t c__ l d b_ t h_ l_r g_s t I P O ( I n_t__ l P_b l_c O f f_r_n g ) _n h_s t_r y . I n v_s t_r s w_t h d__ p p_c k_t s h_v_ b_t w__ n N_v_m b_r 1 7 _n d D_c_m b_r 4 t_ s n_p _p s h_r_s _n t h_ w_r l d ' s m_s t p r_f_t_b l_ c_m p_n y . T h_ c_m p_n y _s v_l__ d _t _p t_ $ 2 . 3 t r_l l__ n . I n c_m p_r_s_n , _t s r_v_l , t h_ U S __ l g__ n t E x x_n M_b_l , h_s _ v_l__ t__ n _f _ m_r_ $ 3 0 0 b_l l__ n .

    S__ d_ A r_m c_ P r_s_d_n t _n d C E O A m_n N_s s_r t_l d t h_ C N B C n_w s _g_n c y l_s t w__ k t h_t t h_ c_m p_n y ' s I P O w_l l h_l p d_v_r s_f y S__ d_ A r_b__ ' s _c_n_m y . F_r t h_r s h_r_ _f f_r_n g s m_y t_k_ p l_c_ l_t_r _n s t_c k _x c h_n g_s _n H_n g K_n g , L_n d_n , N_w Y_r k _n d T_k y_. S__ d_ A r_b__ _s h__ v_l y r_l__ n t _n __ l _n d n__ d s t_ s__ k _l t_r n_t_v_ _r__ s _f g r_w t h . T h_ I P O _s p_r t _f _n _m b_t___s p l_n t_ r_f_r m t h_ k_n g d_m ' s _c_n_m y c_l l_d " S__ d_ V_s__ n 2 0 3 0 " . T h_s _s t h_ b r__ n c h_l d _f S__ d_' s C r_w n P r_n c_ M_h_m m_d b_n S_l m_n . H_ h_p_s h_s _n_t__ t_v_ w_l l r_v_t_l_z_ m_n y _s p_c t s _f t h_ _c_n_m y _n d s_c__ t y . T h_ C r_w n P r_n c_ _s s p__ r h__ d_n g t h_ d_v_l_p m_n t _f _ r_n g_ _f n_n -__ l _n d_s t r__ s , l_k_ h__ l t h c_r_, m_n_n g _n d t__ r_s m .

    Punctuate the text and add capitals

    saudi aramco the worlds biggest oil producer has announced that it will float its shares on the saudi stock exchange the news has been much anticipated by financial analysts around the world the flotation is causing a lot of excitement among speculators worldwide saudi aramco will allocate up to 05 per cent of its shares to individual investors experts say it could be the largest ipo initial public offering in history investors with deep pockets have between november 17 and december 4 to snap up shares in the worlds most profitable company the company is valued at up to 23 trillion in comparison its rival the us oil giant exxon mobil has a valuation of a mere 300 billion

    saudi aramco president and ceo amin nasser told the cnbc news agency last week that the companys ipo will help diversify saudi arabias economy further share offerings may take place later on stock exchanges in hong kong london new york and tokyo saudi arabia is heavily reliant on oil and needs to seek alternative areas of growth the ipo is part of an ambitious plan to reform the kingdoms economy called saudi vision 2030 this is the brainchild of saudis crown prince mohammed bin salman he hopes his initiative will revitalize many aspects of the economy and society the crown prince is spearheading the development of a range of nonoil industries like healthcare mining and tourism

    Put a slash (/) where the spaces are

    SaudiAramco,theworld'sbiggestoilproducer,hasannouncedthatitwill
    floatitssharesontheSaudiStockExchange.Thenewshasbeenmuchant
    icipatedbyfinancialanalystsaroundtheworld.Theflotationiscausingal
    otofexcitementamongspeculatorsworldwide.SaudiAramcowillalloca
    teupto0.5percentofitssharestoindividualinvestors.Expertssayitcoul
    dbethelargestIPO(InitialPublicOffering)inhistory.Investorswithdee
    ppocketshavebetweenNovember17andDecember4tosnapupsharesi
    ntheworld'smostprofitablecompany.Thecompanyisvaluedatupto$2.
    3trillion.Incomparison,itsrival,theUSoilgiantExxonMobil,hasavaluat
    ionofamere$300billion.SaudiAramcoPresidentandCEOAminNassert
    oldtheCNBCnewsagencylastweekthatthecompany'sIPOwillhelpdive
    rsifySaudiArabia'seconomy.Furthershareofferingsmaytakeplacelat
    eronstockexchangesinHongKong,London,NewYorkandTokyo.Saudi
    Arabiaisheavilyreliantonoilandneedstoseekalternativeareasofgrowt
    h.TheIPOispartofanambitiousplantoreformthekingdom'seconomyc
    alled"SaudiVision2030".ThisisthebrainchildofSaudi'sCrownPrinceM
    ohammedbinSalman.Hehopeshisinitiativewillrevitalizemanyaspect
    softheeconomyandsociety.TheCrownPrinceisspearheadingthedevel
    opmentofarangeofnon-oilindustries,likehealthcare,miningandtouri
    sm.

    Free writing

    Write about Saudi Aramco IPO for 10 minutes. Comment on your partner’s paper.

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    Academic writing

    Investing in shares is a great way to prepare for the future. Discuss.

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    Homework

    1. VOCABULARY EXTENSION: Choose several of the words from the text. Use a dictionary or Google's search field (or another search engine) to build up more associations / collocations of each word.
    2. INTERNET: Search the Internet and find out more about this news story. Share what you discover with your partner(s) in the next lesson.
    3. SAUDI ARAMCO: Make a poster about Saudi Aramco. Show your work to your classmates in the next lesson. Did you all have similar things?
    4. SHARES: Write a magazine article about everyone investing in shares. Include imaginary interviews with people who are for and against this.
    Read what you wrote to your classmates in the next lesson. Write down any new words and expressions you hear from your partner(s).
    5. WHAT HAPPENED NEXT? Write a newspaper article about the next stage in this news story. Read what you wrote to your classmates in the next lesson. Give each other feedback on your articles.
    6. LETTER: Write a letter to an expert on IPOs. Ask him/her three questions about them. Give him/her three of your ideas on IPOs. Read your letter to your partner(s) in your next lesson. Your partner(s) will answer your questions.

    Answers

    (Please look at page 26 of the PDF to see a photocopiable example of this activity.)

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