Riyadh – Mubasher: Saudi Crown Prince Mohammed bin Salman’s upcoming visit to the UK and the US is expected to shape the decision on the venue of listing Aramco's initial public offering (IPO).
While sources said that chances of listing the Middle Eastern oil giant on London and New York bourses are receding, Reuters reported.
“Yet this may no longer be the case as Hong Kong is emerging as an increasingly likely compromise because Riyadh wants to help Asian nations that are expected to become “cornerstone” investors, including China and Japan,” Reuters said, citing informed sources.
London and New York are still in the race, the sources added, noting that some Saudi officials consider their requirement for further disclosure of sensitive information on the state-owned crude producer than the Hong Kong exchange as a drawback.
The complexity of the listing, legal concerns and conflicting recommendations of the different advisers have postponed the decision of where to list the Saudi oil giant, they said.
Bin Salman started his visit to the UK on Tuesday 6 March, while his visit to the US is forecast to start on 19 March.
