Saudi regulator asked to study local market impact of Aramco IPO

Saudi regulator asked to study local market impact of Aramco IPO:

"An advisory council to Saudi Arabia’s government has asked the securities regulator to study the impact of listing Saudi Aramco on the local bourse amid concern that a huge initial public offer could damage the market.

The Shura Council’s fiscal committee has also requested the Capital Market Authority (CMA) makes sure the stock market’s liquidity would not become concentrated in the giant oil company alone, state news agency SPA reported late on Tuesday.

The government has said it plans to sell about 5 percent of Aramco, hoping to raise some $100 billion or more in what would likely be the world’s biggest initial public offer (IPO). The sale is expected in the second half of 2018. "



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