May 14, 2016    1 minute read

Saudi Aramco Plans London Listing But Doubts Grow On $2.5 Trillion Claim

   May 14, 2016    1 minute read

Saudi Aramco Plans London Listing But Doubts Grow On $2.5 Trillion Claim

Saudi Arabia is planning a three-way foreign listing in London, Hong Kong, and New York for the record-smashing listing of its $2.5 trillion oil giant Aramco.

Trader’s Remarks: The Saudi authorities are hoping to entice ExxonMobil, China’s Sinopec, and potentially BP, into taking strategic stakes, offering them long-term access to upstream operations in return for cutting-edge technology or refinery deals, according to sources close to Saudi thinking. The Aramco sale is planned as soon as 2017 or 2018 and would, in theory, be five times larger than any IPO in history, a huge prize for the London Stock Exchange.

What to watch: BP, Royal Dutch Shell, Aramco, Total

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