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Friday, 9 June 2017

Boost for London bid to land Saudi Aramco IPO

Boost for London bid to land Saudi Aramco IPO:

"Saudi Aramco will not join the FTSE 100 stock index if it lists its shares in the UK, averting confrontation with City institutions and strengthening London’s status as frontrunner for a slice of the Saudi state oil group’s initial public offering. Saudi Arabia is close to making its long-awaited decision on which international exchange its state oil group will float next year, when it is expected to become the world’s largest publicly quoted company. Global exchanges have been locked in a battle for the listing that could value the world’s biggest oil producer at about $1tn, according to a Financial Times analysis."



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