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Saudi oil giant Aramco ready for IPO. REUTERS / Maxim Shemetov

The Saudi oil giant Aramco confirms having raised more than 25 billion dollars for its next IPO. A historic record, made thanks in particular to Saudis who subscribed the actions of the national flagship.

With $ 25 billion raised, Aramco breaks the record of Alibaba, the Chinese online business specialist, a record achieved in 2014 when it entered Wall Street.

The raised funds value the Saudi company to the tune of 1 700 billion dollars, far ahead of Apple, Microsoft or Alibaba. However, it is less than the 2,000 billion targeted by Mohammed bin Salman, the crown prince , when the project was announced four years ago.

It was especially the Saudis who subscribed during this operation. Small bearers, but also large fortunes, feeling obliged to support the authorities. Major foreign investors, they, continue to question the governance of the company and its ability to protect its oil facilities. They also question the sustainability of Aramco's benefits in the face of tougher environmental policies around the world.

Aramco is expected to make its first stock exchanges on the Ryad Stock Exchange on December 12.