FCA Being Ridiculous with Aramco

[Marina Schwarz + 1,576]

"Britain’s markets watchdog will press ahead with a new premium listing next month aimed at attracting companies like state-controlled Saudi Aramco to London, although the rules have been “refined” following investor criticism. The Financial Conduct Authority’s initial proposal last year led to suggestions the British government had influenced the watchdog to try to secure the Saudi energy company’s planned initial public offering (IPO)."

and even better:

"Saudi Arabia is expected to float up to 5 percent of Aramco in Riyadh and an international venue such as London or New York in what is expected to be the biggest ever IPO and would boost the reputation of its chosen listing venue. Saudi Aramco had no immediate comment." From here.

I can understand their desperation but really, it has caused me vicarious embarrassment yet again.

[TraderTate + 186]

Seems to me London is going to have to do even more to attract people post-Brexit