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Wednesday, 19 April 2017

Exclusive: China gathers state-led consortium for Aramco IPO - sources | Reuters

Exclusive: China gathers state-led consortium for Aramco IPO - sources | Reuters:

"China is creating a consortium, including state-owned oil giants and banks and its sovereign wealth fund, that will act as a cornerstone investor in the initial public offering of Saudi Aramco, people with knowledge of the discussions told Reuters.

Saudi Aramco, a key exporter to China along with Russia's Rosneft (ROSN.MM), is due to list next year, with a potential $100 billion equity sale that is expected to be the world's largest to date.

The planned Chinese investment makes it more likely that the national energy giant would seek a listing in Asia, with Hong Kong currently the frontrunner among bourses in the region, the same people said."



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