dubai / riyadh / london (reuters) – saudi arabia, on the new york stock exchange for the listing of public oil company aramco school, although some financial and legal advice that london is less problematic, reported reuters sources close to the case.
the final decision will be made by the crown prince mohammed bin salman, who oversees economic policy of the kingdom, they said.
they pointed out some differences between the advice and wishes of the prince.
prince mohammed bin salman may choose to introduce aramaco in new york stock exchange for the “political considerations”, because of the long-standing relations between washington and riyadh, they explained, adding, however, that financial and commercial factors would also play a role in the choice.
the first global oil producer, which will be introduced in the scholarship of riyadh, said in a press release that the decision on the location of the external rating has not yet been established. all the options continue to be explored, “he said in response to a request for comment from reuters.
the government wants to score up to 5% of the capital stock of aramco in riyadh and on at least a foreign stock exchange in the second half of the year 2018, which is part of his plan to promote investment and diversify the economy to reduce its dependence on oil.
some advice that the united states the rate they would disclose sensitive information, recommended to the london stock exchange, several sources reported last month, reuters.
the leaders of the group have also raised a legal risk bigger, especially the class actions brought by shareholders.
an industry source, however, said that new york was the preferred option of the government and the crown prince. ” it is generally correct, “she said.
new york and london are not the only candidates in the hong kong stock exchange is also on the line, added the sources.
riad hopes to raise up to $100 billion to this operation, which would make the ipo, the largest in the world.
one of the main points discussed in the door on the development of the group. the prince finds its value could be at least 2 billion, a figure is considered by some analysts that the optimism is between 1000 and 1500 billion.
if the u.s. is the largest source of capital in the world, a rating in new york would disclose certain information. estimates of proven reserves, the estimates of changes in crude oil prices, the forecast of demand are important factors in the development of documentation, said another source in the area.
the new york and london have refused to comment on this information.
(rania el gamal, katie. paul and alex lawler, catherine mallebay – vacqueur for service in french).
copyright & copy;, thomson reuters
Translated by forexguides.info Team