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English news

13-Aug-2017

Saudi Arabia said to favour New York for Aramco listing despite risks

Saudi Arabia reportedly favours New York Stock Exchange (NYSE) for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, according to people familiar with the matter. A final decision on where to stage the IPO will be taken by Crown Prince Mohammad bin Salman, the sources said. Prince Mohammad may choose NYSE for "political considerations", given the longstanding relationship between Riyadh and Washington, but financial and commercial factors would also play a role in the choice, the sources added. 

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