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Sunday, 30 July 2017

Saudi Aramco’s IPO choice: London, New York — or both? | Arab News

Saudi Aramco’s IPO choice: London, New York — or both? | Arab News:

"I spent much of last week in London being persuaded that the city’s stock exchange was the appropriate place for listing shares in Saudi Aramco — apart from the Tadawul, of course, where it is guaranteed star billing.

I almost bought it. The London Stock Exchange (LSE) is a fine, venerable institution, still by far the biggest in the European trading zone. It wants the Aramco business, and the regulator, the Financial Conduct Authority, has bent over backwards to help them do it.

Maybe some investment professionals have reservations about being minority shareholders in a government-controlled entity, but they have the ultimate option: If they do not like it, do not buy it. 

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