Saudi Arabia starts IPO of 明言する／公表する-run oil 巨大（な） Aramco
Saudi Arabia has 正式に 発表するd the start of its 初期の public 申し込む／申し出ing (IPO) of the 明言する／公表する-run oil 巨大（な） Saudi Aramco.
The move will see a sliver of the company 申し込む／申し出d on a 地元の 在庫／株 交流 in hopes of raising billions of dollars for the kingdom.
An 告示 on the kingdom’s 資本／首都 Market 当局’s website 早期に on Sunday served as the starting gun for an IPO which had been 約束d by 栄冠を与える Prince Mohammed 貯蔵所 Salman since 2016.
初期の 計画（する）s call for the 会社／堅い’s 株 to be 貿易（する）d on Riyadh’s Tadawul 在庫／株 交流, then to later put other 株 on a foreign 交流.
栄冠を与える Prince Mohammed 貯蔵所 Salman first 約束d the Aramco IPO in 2016 (Yui Mok/PA)
Amin H Nasser, the 大統領，／社長 and 長，指導者 (n)役員／(a)執行力のある of Aramco, said: “This is a transformational and historic moment for Saudi Aramco.”
He also 強調する／ストレスd the company’s “disciplined 財政上の approach and 慎重な and 柔軟な balance sheet”.
Prince Mohammed hopes for a very-楽観的な 2 一兆 US dollar (£1.5 一兆) valuation for Aramco, which produces 10 million バーレル／樽s of 天然のまま oil a day and 供給するs some 10% of 全世界の 需要・要求する.
That would raise the 100 billion dol lars (£77.3 billion) he needs for his ambitious redevelopment 計画（する）s for a Saudi Arabia hoping for new 職業s, as 失業 stands at more than 10%.
However, 経済的な worries, the 貿易（する） war between 中国 and the US and 増加するd 天然のまま oil 生産／産物 by America has depressed energy prices.
A September 14 attack on the heart of Aramco had already spooked some 投資家s, with one ratings company already downgrading the oil 巨大（な）.
The 告示 by the 資本／首都 Market 当局 申し込む／申し出d no timeline for the IPO.
“The 資本／首都 Market 当局 board has 問題／発行するd its 決意／決議 認可するing the Saudi Arabian Oil Co 使用／適用 for the 登録 and 申し込む／申し出ing of part of its 株,” the 当局 said in its 声明. “The company’s prospectus will be published 事前の to the start of the subscription period.”
関係者s at the 未来 投資 率先 会議 on October 29 follow the news about the long-planned IPO of 明言する／公表する-run oil 巨大（な） Saudi Aramco 発表するd by a 衛星 news channel (Amr Nabil/AP)
The Saudi-owned 衛星 channel Al-Arabiya 報告（する）／憶測d last week, 特記する／引用するing 匿名の／不明の sources, that pricing for the 在庫／株 will begin on November 17. A final price will be 始める，決める on December 4, with 株 then beginning to be 貿易（する）d on the Tadawul on December 11, the channel 報告（する）／憶測d. The channel is believed to have の近くに links to the kingdom’s Al Saud 王室の family.
The kingdom has in the past used the company as a piggy bank for 開発 companies, 支援する when it was still an American company. Since buying a 100% 利益／興味 in the 会社／堅い by 1980, the 王室の family as its 単独の “株主” 大部分は has not 干渉するd in the company’s long-称する，呼ぶ／期間／用語 商売／仕事 決定／判定勝ち（する）s as its 歳入 供給するs around 60% of all 政府 歳入.
But recently, there have been 決定／判定勝ち（する）s seemingly 軍隊d の上に Aramco, 含むing the nearly 70 billion dollar (£54 billion) 購入（する） in March of the 石油化学（製品） 会社／堅い Saudi Basic 産業s Corp just before SABIC 発表するd a 急落（する），激減（する） in its 年４回の 利益（をあげる）s.
In Aramco’s first-ever half-year results, it 報告（する）／憶測d income of 46.8 billion (£36.2 billion). Yet 分析家s say a 2 一兆 dollar valuation ? Apple and Microsoft 分かれて for instance are 1 一兆- ― may be a stretch.
By 発表するing the start of the IPO on Sunday, Prince Mohammed may have been 納得させるd to take a lower valuation ーするために get the IPO moving. The kingdom is likely to be pinning its hopes on tremendous 地元の 利益／興味 to 押し進める up the company’s valuation before 潜在的に taking some of the 在庫／株 abroad.
分析家s believe Aramco will 名簿（に載せる）／表（にあげる） as much as 3% of the 会社／堅い on the Tadawul, with another 2% put abroad.
Saudi Aramco has sought to 保証する 投資家s, given the questions over its valuation and the 可能性のある hazards of 未来 attacks or geopolitical 危険.
A man walks 近づく a Saudi Aramco 構内／化合物 in Jeddah, Saudi Arabia (Amr Nabil/AP)
A 贈呈 地位，任命するd pm Aramco’s website last month 発表するd the 意図 to 申し込む／申し出 a 75 billion dollar (£57.9 billion) （株主への）配当 for 投資家s in 2020.
It also 誓約（する）d that from 2020 to 2024, any year with a （株主への）配当 under 75 billion dollars would see “非，不，無-政府 株主s” prioritised.
But beyond the 在庫／株s, worries 固執する that Saudi Arabia could be 攻撃する，衝突する by another attack like the one on September 14, which the US 非難するs on Iran.
Iran 否定するs it 開始する，打ち上げるd the 巡航する ミサイルs and drones used in the attack.
Yemen’s Houthi 反逆者／反逆するs （人命などを）奪う，主張するd 責任／義務, but 分析家s say the 武器s used would not have the 範囲 to reach their 的s.
