The Square Mile’s governing authority is throwing its weight behind new rules to attract the Saudi Aramco mega-float, pitting itself against other major bodies including the Institute of Directors (IoD) and the Investment Association, City A.M. can reveal.
Andrew Bailey, the chief executive of the Financial Conduct Authority, is usually good at reading the breezes. He is the safe-hands operator whom the former chancellor George Osborne switched from the Bank of England to inject some much-needed credibility into FCA after its various calamities.
The City regulator is proposing to water down stock market rules in a move regarded as an attempt to attract the world’s biggest ever flotation – of Saudi Aramco, the Gulf kingdom’s state oil company – to London.
Roll up, roll up, who wants some lovely Saudi dosh that would arrive with a stock market listing in London of Saudi Aramco, the enormous state-owned national oil company?
HSBC has been formally mandated as an adviser on the initial public offering of Saudi Arabia's national oil giant Aramco IPO-ARMO.SE, expected to be the world's largest ever IPO, HSBC's chief executive said on Monday.
London Stock Exchange Group chief executive Xavier Rolet has joined the Prime Minister on a visit to Saudi Arabia at a time he is attempting to win a role in the world’s largest initial public offering (IPO).
Evercore Partners, the U.S. bank founded by Roger Altman, won a role to advise on the planned initial public offering of Saudi Arabian Oil Co., according to people familiar with the matter, getting a coveted spot on what may be the largest-ever listing.
Global banking giants are set to compete for an advisory role on oil goliath Saudi Aramco’s multi-billion-dollar float, which is expected to be the world’s biggest initial public offering.
Top of the agenda.
Saudi Arabia’s potential initial public offering of its state oil company could be the largest ever, a juicy target for any ambitious Wall Street bank. In a country traditionally cold to outsiders, only a few have the experience to win it.
The stock market flotation of Saudi Arabia’s state oil company is likely to be delayed until next year, according to the country’s energy minister, confirming mounting speculation that the world’s biggest IPO was running behind schedule.
The Saudi Stock Exchange has taken steps to prepare for the initial public offering of state-owned oil company Aramco.
Saudi Arabia has taken a key step towards allowing future investors to buy shares in its national oil company, as it prepares for the world’s biggest stock market flotation later this year.