Plans for World's Biggest IPO Attract Attention of U.K. Cabinet - Bloomberg

Plans for World's Biggest IPO Attract Attention of U.K. Cabinet - Bloomberg:

"Prime Minister Theresa May’s cabinet talked about Saudi Arabian oil giant Aramco’s pending initial public offering, which could be the largest in history, as part of preparations for a trip to London by Crown Prince Mohammed bin Salman. “The visit will usher in a new era of bilateral relations” focused on delivering “wide-ranging benefits,” said James Slack, a spokesman for May. The potential listing for Saudi Arabian Oil Co., the world’s biggest oil exporter, was among the topics that were discussed, he said, without giving further details. Starting March 7, the prince is scheduled to make his first trip to the U.K. since becoming heir to the monarchy. London and New York are among cities vying to host Aramco when it sells shares in Riyadh and potentially a second, yet-to-be-determined location. Saudi Arabia has signaled that it plans to sell about 5 percent of the company to raise a record $100 billion as early as this year in the IPO, a brainchild of the crown prince. The 32-year-old leader’s economic transformation plan will offer new opportunities for investments by British businesses in infrastructure, education, entertainment and health-care, the U.K. government said on Tuesday."



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