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Thursday, 13 July 2017

New London listing rules open door to Saudi Aramco

New London listing rules open door to Saudi Aramco:

"The UK’s financial watchdog is making it easier for state-owned companies to list their shares in what will be a boon for those lobbying for Saudi Arabia’s Aramco to choose London for its initial public offering.

The Financial Conduct Authority said on Thursday it is planning to create a new category for sovereign-owned companies that are looking to privatise. The move is part of broader plans by the FCA to reform equity and debt markets in an attempt to keep the UK open for business after Brexit.

The plans involve creating a new category within the “premium” listing rules for companies controlled by sovereign entities rather than by oligarchs or other private groups."

'via Blog this'