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London And New York Said To Be Frontrunners For Saudi Aramco’s Listing

London And New York Said To Be Frontrunners For Saudi Aramco’s Listing

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Saudi Aramco’s upcoming initial public offering is set to be the world’s biggest flotation, as the Saudi’s head to the international capital markets to sell 5 per cent of their national oil company.

With valuation officials hope will reach US$2 trillion, London and New York are said to be the frontrunners for the listing expected to be a fee bonanza for advisers working on the deal.

Should London be successful, it would also be a boost for the City amid fears that leaving the EU could cost it its status as an international finance hub.BM

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