China Said to Pitch Hong Kong Listing, Funds for Aramco IPO - Bloomberg Business:
"Chinese officials pitched a dual listing for Saudi Arabian Oil Co. that would put the government-owned oil giant’s shares on both the Hong Kong and Saudi exchanges in return for anchor investments from Chinese funds, according to people familiar with the matter.
The proposal was made earlier this year and no decisions have been made, the people said, asking not to be named as the details aren’t public. The oil producer, also known as Aramco, said in January it’s considering an initial public offering of the entire business or some of its units, which could make it one of the world’s biggest public companies.
One option Aramco is considering is an IPO for part of its downstream and refining businesses, which could be valued at more than $90 billion and raise $5 billion to $10 billion, the people said. The company hasn’t mandated financial advisers and may choose Saudi Arabia as the sole listing venue, they said. A representative for Aramco declined to comment."
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