Tags: saudi | aramco | ipo | new york

WSJ: Saudi Favors New York for Aramco IPO, Also Considers Toronto, London

Image: WSJ: Saudi Favors New York for Aramco IPO, Also Considers Toronto, London

 (DPC)

Monday, 20 Feb 2017 07:06 PM

Saudi Arabia is favoring New York to list state oil giant Saudi Aramco, while also considering London and Toronto for the prospect of floating the firm, the Wall Street Journal reported on Monday.

Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo and Shanghai but are unlikely to pursue listing in those places, the newspaper said, citing people familiar with the matter. 

The listing is the centerpiece of a Saudi Arabian government plan to transform the kingdom by enticing investment and diversifying the economy away from a reliance on oil.

Saudi officials expect the IPO to value Aramco at a minimum of $2 trillion.

Saudi Arabian Oil Co., known as Saudi Aramco, was not immediately available for comment. 

© 2017 Thomson/Reuters. All rights reserved.

 
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Saudi Arabia is favoring New York to list state oil giant Saudi Aramco , while also considering London and Toronto for the prospect of floating the firm, the Wall Street Journal reported on Monday.
saudi, aramco, ipo, new york
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2017-06-20
Monday, 20 Feb 2017 07:06 PM
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