Aramco eyes two-stage IPO, favours Tokyo for international listing: Report

If confirmed, that would be a setback for London, New York and Hong Kong, which have all vied for a slice of the much-touted IPO

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International news: Saudi oil giant Aramco is considering a two-stage initial public offering (IPO) with a domestic debut and a subsequent international listing possibly in Tokyo, the Wall Street Journal reported Thursday.

Aramco has said it plans to float around five per cent of the state-owned company in 2020 or 2021 in what could potentially be the world's biggest stock sale.

The oil giant is now considering a plan to raise as much as $50 billion in a domestic listing, the Journal said citing unnamed sources.

It added that the world's biggest energy firm favours Tokyo as a...read more

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