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Thursday, 13 July 2017

Britain seeks looser IPO rules to lure Saudi Aramco, worries investors

Britain seeks looser IPO rules to lure Saudi Aramco, worries investors:

"Britain wants to loosen rules on listing state companies in a move that could help London win the lucrative IPO of oil giant Saudi Aramco (IPO-ARMO.SE) but which has raised fears for minority investors. The Financial Conduct Authority's proposals on Thursday would create a new listing category for companies controlled by sovereign states and come as exchanges vie to win the Aramco initial public offering, which is set to be the largest ever. But they met with criticism from British fund managers, who have already expressed concerns about Aramco's governance."



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