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The first look at the financial guts of Saudi Aramco show a corporate cash gusher, pumping billions in profit every month and beating every other big name in global business.Holding off on the IPO until crude is high enough could keep sufficient funds flowing to the government while also polishing up Aramco's valuation.The Aramco listing is similarly ambitious, seeking to raise a record $100 billion by selling 5 percent of the company's shares.Even at the low end of that range, Aramco would become the world's largest company by market value, well ahead of Apple Inc.The importance of oil revenue to the kingdom became clear in late 2014, when crude prices plunged, eventually hitting a 12-year low.Tremendous DealSo far, the Saudi government hasn't made any changes that would divert significant amounts of cash away from its own coffers in order to boost Aramco's appeal to foreign investors.No matter what final valuation Aramco achieves, the first look at its books illustrated the tremendous deal the kingdom cut in 1976 to fully nationalize the company.
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