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Saudi Arabia favours New York over London for Aramco listing

Exchanges are vying to win part of the flotation as it'll be a major boost to their trading volumes

Reuters  |  Dubai/Riyadh/London 

Saudi Arabia favours 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 risky 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 - or MbS as he is known - who oversees the kingdom's economic and energy policies, the sources said. Their comments point to internal disagreements between what some advisers are recommending ...

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First Published: Fri, August 11 2017. 18:01 IST