Exclusive: Saudi Aramco advisers favor London for historic IPO – sources

28 Jul 2017   Saudi Arabia

Saudi Aramco’s advisers have recommended London for the historic listing of the oil company, with U.S. disclosure rules a concern for Saudi authorities, sources familiar with the matter told Reuters. A final decision on the venue for what is expected to be the world’s biggest IPO and is targeted to raise $100 billion will be taken by Crown Prince Mohammad bin Salman, who is overseeing Saudi Arabia’s radical economic reforms, they said. Listing five percent of Aramco is a centerpiece of Saudi Arabia’s Vision 2030 plan to diversify beyond oil and financial considerations will not be the only factor in its decision, with Saudi authorities also taking the interests of shareholders and the company into account, the sources added. The advisers’ views on the […]

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