Singapore Exchange in talks with Saudi Aramco to beat London and others to secondary listing spot
The Singapore Exchange is said to be in talks with Saudi Aramco as it bids to co-host what is expected to be the world’s largest ever stock market listing.
London, New York, Hong Kong and Japan are also thought to be in the running for the secondary listing spot of the oil and gas giant.
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Sources told Reuters that the Singapore Exchange was in early-stage talks with Saudi Aramco.
This is after Saudi minister Khalid al-Falih indicated the company was exploring the prospect of concurrent listings on more than one exchange.
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It emerged last month that global banking giants such as Morgan Stanley and HSBC had begun competing for an advisory role on the float.
As part of the initial public offering (IPO), Saudi Aramco is expected to float up to five per cent of its business in 2018.