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FinancialNews


  • 05-02-18

    Saudi Arabia to choose where to list Aramco shares

    (MENAFN) Saudi Arabia seeks to conclude talks with tactical investors such as China, Japan and South Korea, before it decides where to list shares in state oil company Saudi Aramco.According to Saudi officials, the government intends to sell about 5 percent of Aramco shares on one or more foreign exchanges in addition to Riyadh.US President Trump has urged the country to list Aramco on the New York stock exchange, while British PM May also advocated for it to be in London, however, Riyadh also has consider views over where the shares should be listed from the countries expected to be Aramco's biggest cornerstone investors.A senior Saudi source close to the IPO process said: "Everyone is talking about venues for the listing and why they haven't been chosen yet. Indeed, you have Trump encouraging Aramco to list in New York and May encouraging to list in London. But that is only the tip of the iceberg."

    MENAFN0502201800450000ID1096431072

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