Why a domestic listing for Saudi Aramco is back on the agenda - The National

Why a domestic listing for Saudi Aramco is back on the agenda - The National:

"Saudi Arabia has not yet decided on the international venue for the dual-listing of oil major Saudi Aramco, with London, New York, Singapore, and Hong Kong all vying for the prestigious IPO. Such a delay in announcing a venue raises the intriguing possibility of a Saudi-only listing.

There is speculation that the highly-anticipated IPO – which may be the largest the world has ever seen – will be delayed until next year, and that the international component will be a secondary listing, with a primary offering on the Saudi stock exchange (Tadawul) becoming a more realistic choice.

Such a prospect will no doubt cause many investment bankers and financial advisers to worry about losing out on bonuses and advisory fees if a local primary listing proceeds. But is there any justification for this scenario? And more importantly, is listing Aramco exclusively on Tadawul a viable option."



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