Saudi Arabia’s crown prince favours listing the Kingdom’s oil giant Aramco in New York rather than London, a news report said today.
The report said financial and legal advisors had recommended listing in London, on the basis that a US flotation would require greater disclosure of sensitive information.
But a senior industry source told Reuters it was “broadly correct” that Mohammad bin Salman preferred New York as the venue for the company’s main foreign listing.
Aramco said no decision had been taken.
The New York and London stock exchanges declined to comment.
The listing could be the world’s largest initial public offering.
Prince Mohammed has said the IPO will value Aramco at a minimum of $2trillion.
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