Saudis Shortlist New York, London, Hong Kong For Aramco IPO

12 Jan 2018   Saudi Arabia

Saudi Arabia has shortlisted New York, London, and Hong Kong for the initial public offering of its oil giant Aramco, with the three exchanges considered either singly or a combination of two of them, or even all three, Reuters reported on Thursday, citing two sources familiar with the latest developments. Picking those three potential venues, plus the domestic Saudi stock exchange, means that Toronto, Tokyo, and Singapore are no longer in the running for hosting what is expected to be the largest IPO in history. Saudi Arabia still plans to have Aramco listed in late 2018, according to Reuters’ sources. The final decision will be made by Saudi Crown Prince Mohammad bin Salman, who is in charge of supervising Saudi Arabia’s oil and economic policies, the sources added. One of the sources told Reuters that talks involved listing Aramco at least on two of the three shortlisted foreign exchanges. […]

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