Skip to main content
IRAN Energy News Agency
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

Saudi Aramco Prefers New York for Listing Despite Risks

Some financial and legal advisers have recommended London as a safer bet.

Saudi Arabia now favors New York over London for its main foreign listing of state oil giant Aramco despite the associated risk of a U.S. listing, sources told Reuters.

Some financial and legal advisers have suggested London as a safer and less risky option over New York, but Saudi Crown Prince Mohammad bin Salman is expected to choose the New York Stock Exchange for "political considerations." Aramco's initial public offering could be the biggest in history, worth as much as $2 trillion.

Aramco said no final decision has been made about the company's foreign listing. Those in favor of a London listing say it will require Aramco to disclose fewer closely guarded details about the company. New York, Salman says, will keep Washington and Riyadh close and offer better access to liquidity and commercial opportunity.

Salman, who oversees Saudi Arabia's economic and energy policies, ultimately has the final say.

News Source: 
News Code: 
10522
Join us on Telegram Channel."Energy Today"

Add new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Fill in the blank.
Parvin Faghfouri Azar
Energy Today
w
+98.21.26413997
Unit 32, No. 26, North Naft Street
Tehran,TH,1918793572
Iran

Saudi Aramco Prefers New York for Listing Despite Risks

Some financial and legal advisers have recommended London as a safer bet.
Parvin Faghfouri Azar
Saudi Arabia now favors New York over London for its main foreign listing of state oil giant Aramco despite the associated risk of a U.S. listing, sources told Reuters.Some financial and legal advisers have suggested London as a safer and less risky option over New York, but Saudi Crown Prince Mohammad bin Salman is expected to choose the New York Stock Exchange for "political considerations." Aramco's initial public offering could be the biggest in history, worth as much as $2 trillion.Aramco said no final decision has been made about the company's foreign listing. Those in favor of a London listing say it will require Aramco to disclose fewer closely guarded details about the company. New York, Salman says, will keep Washington and Riyadh close and offer better access to liquidity and commercial opportunity.Salman, who oversees Saudi Arabia's economic and energy policies, ultimately has the final say.
49