Aramco IPO sparks exchange scramble

Saudi Aramco’s proposed IPO is raising as many questions as answers, not least over which foreign bourse will host the overseas listing, writes James Gavin

Touted as the world’s biggest ever public flotation, the proposed initial public offering (IPO) of 5% of state oil company Saudi Aramco is the cornerstone of the kingdom’s bold economic reform drive. The listing promises not just to galvanise the sluggish listing pipeline of the Saudi Tadawul exchange, but have a truly global impact.