As Saudi oil firm Aramco decides where to sell shares, FCA proposes controversial changes to pave way for LSE listing

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.

The proposals by the Financial Conduct Authority come as Aramco weighs up which financial centre to pick for the sale of 5% of its shares. The company could be valued at $2tn – a huge price tag that would also generate hundreds of millions of dollars in fees for investment bankers, lawyers and other professional firms involved in stock market flotations.

Continue reading…

Facebook Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.