70141
New York Favored for Aramco Listing
New York Favored for Aramco Listing

New York Favored for Aramco Listing

New York Favored for Aramco Listing

Saudi Arabia favors New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and low-risk option, people familiar with the matter told Reuters. A final decision on where to stage what could be the world's largest initial public offering will be taken by Crown Prince Mohammad bin Salman who oversees the kingdom's economic and energy policies, the sources said. Their comments point to internal disagreements between what some advisers are recommending and what the crown prince wants. Prince Mohammad may choose to list Aramco on the New York Stock Exchange for "political considerations", given the longstanding relationship between Riyadh and Washington, the sources said. However, they added that financial and commercial factors would also play a role in the choice. Aramco said in a statement that no decision has been taken yet on the listing venue, beyond the Saudi exchange Tadawul. All options continue to be under consideration.

 

Short URL : https://goo.gl/vGg5Kr
  1. https://goo.gl/FyVD8d
  • https://goo.gl/EvSsDo
  • https://goo.gl/e4iefc
  • https://goo.gl/yTBtcS
  • https://goo.gl/28381s

You can also read ...

Canada to Boost Support for Renewable Energy
Millions of dollars in subsidies for a Nova Scotia tidal...
The field has cumulatively produced about 15 million cubic meters of gas and 31.4 million barrels of oil and condensate.
India’s Reliance Industries has shut down an oil and gas field...
Iran's LPG Exports Fall to 356,000 Million Tons
Iran's LPG shipments loaded, or due for lifting, in September...
Saudis, Russia Planning to  Replace Iran Oil Market Share
The joint OPEC and non-OPEC ministerial committee, aka JMMC,...
Emirati Oil Company Hoarding Jet Fuel
Emirates National Oil Company has begun storing jet fuel on...
OPEC,  Non-OPEC Aug. Compliance  at 129%
An OPEC and non-OPEC monitoring committee found that oil...
$30 Million for Mazandaran Gas Expansion  Scheme
Over 4.56 trillion rials ($30 million) have been allocated to...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus