Aramco Considers IPO Listing in Japan

Aramco and the Tokyo Stock Exchange are considering setting up a joint group to study a potential stock market listing of the Saudi Arabian state oil giant in Japan, the governments of Japan and Saudi Arabia said, as bourses in Asia and elsewhere attempt to win the $100 billion listing. A deal to look into establishing a joint study group for the listing was one of several economic cooperation agreements signed by the two governments on Monday, the second day of Saudi King Salman's visit to Japan, the governments said in a joint statement, Reuters reported. Saudi authorities plan to list up to 5% of the world's largest oil producer on the Saudi stock exchange in Riyadh, the Tadawul, and also one or more international markets. New York, London, Hong Kong, Singapore and Toronto, besides Tokyo, are vying for what could be the world's largest IPO, potentially raising as much as $100 billion.