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Saturday, 27 May 2017

In Aramco IPO pitch, Canada plays up its natural resources expertise | Reuters

In Aramco IPO pitch, Canada plays up its natural resources expertise | Reuters:

"The Toronto Stock Exchange's efforts to win a slice of the massive Saudi Aramco public listing plays up the country's deep experience in natural resources as part of a broader offer to help the kingdom with its shift away from oil dependence. In pitch documents obtained by Reuters, the TSX talks up "a customized regulatory environment for resource issuers", its leading position in oil and gas equity capital raising, and strong trading interest from outside the country. The Canadian pitch is also broader than just for a slice of the Aramco IPO. On several trips to the kingdom, the most recent in late March, TMX executives have been joined by senior executives from some of the country's biggest banks, brokerages and other financial players as Canada Inc seeks a role in delivering the kingdom's broader Vision 2030 plan."



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