Aramco is highly unlikely to list on the New York Stock Exchange, Mark Mobius, executive chairman of Templeton Emerging Markets Group, told CNBC. The reason: risk of litigation. Interestingly, however, Mobius added that a listing in London is also doubtful because transparency is essential for those who want to list on the LSE and Aramco has been reluctant to share details about its operations despite a lot of declarations that transparency is very important for the company in view of its listing. “I think New York is pretty much out because of the risk that they have litigation. London may be out too because they don’t want to disclose a lot of the inner workings of Aramco, so it’s going to be very interesting to see what happens with that deal,” the executive of the UK’s largest emerging markets fund said. Riyadh has insisted that all the international exchanges […]