01.17.2018

New York, London On Aramco IPO Shortlist

01.17.2018

The Big Apple could be part of the biggest IPO in history, if sources are correct.

New York, joined London and Hong Kong on the shortlist of exchanges that could get a piece of the ell-publicized Saudi Arabian Aramco IPO.

Reuters, citing anonymous sources, reported that any or all of the aforementioned, singly or in a combination of two or even all three, could get the international portion of the listing of national oil company Aramco, two sources with knowledge of the discussions said.

The initial public offering (IPO) will also include the Saudi stock exchange, Tadawul, and is still set for late 2018, the sources said.

The shortlist means Tokyo, Singapore and Toronto are no longer in the running for what is likely to be the world’s biggest IPO. Riyadh could raise as much as $100 billion in the sale of up to 5 percent of Aramco [IPO-ARMO.SE] if it achieves a projected $2 trillion valuation.

A final decision has yet to be made by Saudi Crown Prince Mohammad bin Salman, who oversees the kingdom’s economic and oil policies, the sources told Reuters.

One of the sources said a phased listing was being considered, with the local listing occurring first, followed by an international listing or listings at a later stage.

The second source said it was possible that Aramco would be listed on all three international exchanges, as well as the Saudi bourse, but cautioned that no decision had been taken.

The first source said discussions involved listing on at least two of the three venues.

“As far as Aramco goes, late 2018 remains the objective and the plan and everything is moving to deliver that,” the first source said.

Pension funds, sovereign wealth funds, endowments and other institutional asset owners are sitting on vast troves of data -- but extracting value from that data is more challenging than ever.

#AssetOwners #DataQuality

Technology costs in asset management have grown disproportionately, but McKinsey research finds the increased spending hasn’t consistently translated into higher productivity.
#AI #Fiance

We're in the FINAL WEEK for the European Women in Finance Awards nominations – don't miss your chance to spotlight the incredible women driving change in finance!
#WomenInFinance #FinanceAwards #FinanceCommunity #EuropeanFinance @WomeninFinanceM

ICYMI: @marketsmedia sat down with EDXM CEO Tony Acuña-Rohter to discuss the launch of EDXM International’s perpetual futures platform in Singapore and what it means for institutional crypto trading.
Read the full interview: https://bit.ly/45xRUWh

Load More

Related articles

  1. iShares lists its inaugural European listed product on Bitcoin.

  2. Trading Europe From ‘Across the Pond’

    Since the beginning of the year, Euronext has continued to deploy capital to expand across Europe.

  3. Eurex is the only derivatives exchange outside Korea to offer access to a Korean equity index.

  4. Clock Synchronization: A Matter of Timing

    The first phase of 24X National Exchange is due to launch in September this year.

  5. Companies trading on the new market are required to meet specific disclosure benchmarks.

We're Enhancing Your Experience with Smart Technology

We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] By continuing to use our services after Aug 25, 2025, you agree to these updates.

Close the CTA