Aramco listing in Hong Kong to anchor huge Chinese demand for IPO

Saudi Aramco’s CEO said in October that exchanges such as New York, London, Tokyo, and Hong Kong have been looked at for a partial listing of the state company’s planned $100 billion IPO. (AFP)

SINGAPORE: Hong Kong Exchanges & Clearing (HKEX) Chief Executive Charles Li said a Hong Kong listing by Saudi Aramco would help the oil giant to anchor huge Chinese demand for its planned IPO.
“It’s going to provide compelling benefit because they are able to use the listing to anchor very massive Chinese demand at the IPO,” Li told Reuters in an interview in Singapore, where HKEX opened its first overseas office on Wednesday.
Saudi Aramco’s CEO said in October that exchanges such as New York, London, Tokyo, and Hong Kong have been looked at for a partial listing of the state company’s planned $100 billion (SR375 billion) IPO.
“It will become a great platform for the two major sovereigns to use that as a potential platform for broader level of financial or strategic investment decisions,” Li said, referring to China and Saudi Arabia.