Saudi exchange counting on foreign funds to aid Aramco IPO, chief says

Saudi exchange counting on foreign funds to aid Aramco IPO, chief says:

"Saudi Arabia’s stock exchange expects an influx of foreign funds to smooth the listing of national oil firm Saudi Aramco, despite concern among some analysts about whether the market can absorb the huge offer, the exchange’s chief executive said on Sunday.

“Foreign investors are putting in more money — every day we have improved liquidity capacity,” Khalid al-Hussan said in an interview.

The government has said it plans to sell about 5 percent of Aramco, hoping to raise some $100 billion or more in what is likely to be the world’s biggest initial public offer. Officials have said that in addition to Riyadh, Aramco may list on one or more foreign markets such as New York, London and Hong Kong. "



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