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English news

08-Feb-2017

Singapore Exchange holds talks with Saudi Aramco on secondary listing

Singapore Exchange (SGX) has reportedly held talks with Saudi Aramco on a secondary listing, after the company had suggested last week it would likely list on more than one exchange. "This transaction is very open and in the public space. The key thing is there is quite a bit of time for due diligence and SGX is keen to play up its international appeal in this sector," said one source. Aramco could also interest Singapore's sovereign wealth fund GIC Pte Ltd, another source said, but a decision on the size of stake will depend on Aramco's financial details and valuation. The talks with SGX are still at an early stage, with Aramco reviewing several markets including New York, London, Hong Kong and Japan. (Reuters) 

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