Saudi Crown Prince Favors New York Over London For Aramco IPO

12 Aug 2017   Saudi Arabia

Even though Saudi Arabia’s advisors are favoring London over New York for the foreign venue to list Aramco shares, Saudi Crown Prince Mohammad bin Salman and the Saudi government are more inclined to favor New York for the world’s largest IPO next year, Reuters reported on Friday, citing sources familiar with the plans. Crown Prince Mohammad bin Salman—who is overseeing Aramco’s listing plans—may pick New York over London due to “political consideration”, in view of the long-standing Saudi-U.S. relationship, according to Reuters’ sources, who noted, however, that the final choice would also take into account financial factors. “That is broadly correct,” a senior industry source told Reuters, referring to the NYSE option for Aramco’s listing. Responding to Reuters, Aramco said that “All options continue to be held under consideration. There is no timetable requirement for an immediate definitive decision.” A possible listing on the NYSE could give Saudi Aramco […]

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