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Why does Saudi Arabia need the initial public offering of Aramco?
Aramco is a state-owned oil company and a large oil company in Saudi Arabia. The company belongs to an enterprise with an annual output of hundreds of millions of barrels of oil. Saudi Arabia is rich in oil resources. In the past few decades, it has exploited oil and exported it abroad in exchange for dollars and foreign exchange, which has brought great benefits to Saudi Arabia and become one of the richest countries in the world. With the continuous development of oil, oil will be exhausted one day.

Experts in Saudi Arabia countries have long called for economic diversification to reduce dependence on oil. To develop other industrial projects, Saudi Arabia has a certain foundation in seawater desalination, cement, power industry, aluminum production and other industrial projects. Significant progress has also been made in tourism, trade and service industries.

For the long-term development of the company and to raise more construction funds, May decided to go public and issue shares through capital markets around the world. By issuing stock financing, more construction funds can be invested in more construction fields, and the construction funds can be used to carry out technological transformation, introduce talents and promote the company to develop more business. You can also use these construction funds to carry out technical transformation of factories and enterprises, introduce more construction talents, continue to promote the development of various businesses of the company, and make the company and the country get good returns.

With the support of funds, the company can carry out more business, introduce and develop various projects, support the development of production and carry out various business exchanges, so that the company can have greater development. Saudi Aramco is also a giant company and one of the top 500 enterprises in the world. Because of its good reputation, certain strength and public offering, it will certainly get positive response from international investors and succeed.