Mubasher: The Toronto Stock Exchange is actively seeking a role in implementing the Saudi Vision 2030, and most importantly, gaining a share in the upcoming Saudi Aramco initial public offering (IPO), according to Reuters.
The news agency obtained Canada’s pitch documents for the IPO, which heavily revolve around “a customized regulatory environment for resource issuers, its leading position in oil and gas equity capital raising, and strong trading interest from outside the country”.
"We feel that we have put TMX and Canada's best foot forward and we continue to promote our strengths in pursuit of business opportunities in the region and around the world," TMX said in a statement, according to Reuters.
Other stock exchanges trying to get their piece of the IPO-pie are Nasdaq and the London Stock Exchange. Canada would only find a way into the action "if [Aramco's] bankers think they will get sufficient enough market interest here that it will help promote the stock price and give them some liquidity and trading," Darrell Peterson, a partner with Bennett Jones in Calgary, told Reuters.
