Riyadh – Mubasher: The Crown Prince of Saudi Arabia Mohammed bin Salman will soon announce on which foreign bourse the Saudi Arabian Oil Co (Saudi Aramco) will list its highly anticipated initial public offering (IPO) in 2018, Bloomberg reported late Tuesday.
“The Kingdom plans to list on the Saudi stock exchange in Riyadh and choose to sell shares on at least one bourse outside the country,” Bloomberg indicated, noting that this sale could be the “world’s richest IPO” at a value of about $2 trillion.
While several international bourses are competing for the honours, it seems like London and New York are the most viable contenders, sources with knowledge of the matter told Bloomberg.
Eligibility criteria for the choice include “a foreign exchange or exchanges with similar listing and regulatory requirements to the Riyadh bourse, to avoid large deviations in pricing between the markets,” people familiar with the situation told the agency.
