Kate Turlington + 44 KT January 2, 2018 Just saw that London regulators have delayed changing the rules to allow Aramco to be listed on the London Stock Exchange. Wonder what that means for the IPO? Quote Share this post Link to post Share on other sites
Seleskya + 50 AS January 2, 2018 Saw that, too. Not sure what it means because they were supposed to have these new rules by the end of 2017 ... Quote Share this post Link to post Share on other sites
LAOIL + 33 OS January 2, 2018 What rules does it have to change? Quote Share this post Link to post Share on other sites
Seleskya + 50 AS January 2, 2018 For starters, they need to create a new category for premium listings for companies that are controlled by states (sovereign powers). Quote Share this post Link to post Share on other sites
Kate Turlington + 44 KT January 2, 2018 Talk on the 'street' is that Hong Kong is also emerging as a listing contender ... Quote Share this post Link to post Share on other sites
Joanna + 68 JT January 2, 2018 But didn't they choose to list in NYSE rather than London for the very reason that NYSE relaxed their rules to accommodate them. This suggests NYSE is well able to be flexible if the money's right. Quote Share this post Link to post Share on other sites
Stephen + 67 SM January 2, 2018 I believe that also Aramco will require shareholders to forgo their right to sue the company if they do something wrong, or even if they have not truthfully reported their past activities. Quote Share this post Link to post Share on other sites
Joanna + 68 JT January 2, 2018 The stock exchange is breaking its own rules about the minimum percentage of a company's shares being publicly traded. This will distort all the mutual funds which have exposure to the index. It means pension funds are not as secure. Quote Share this post Link to post Share on other sites
Marina Schwarz + 1,576 January 3, 2018 They wouldn't list on NYSE for legal, or rather litigation-possibility, reasons and now that the FCA and the LSE are squirming, Hong Kong may become more attractive. I find the whole affair quite amusing and I'm glad to see some legislators in the UK are doing their job. Quote Share this post Link to post Share on other sites
Carlsbad + 19 CB January 3, 2018 Saudis say IPO is still on track and all listing options are still on the table... Quote Share this post Link to post Share on other sites
Joanna + 68 JT January 3, 2018 The way I see it, Salman is advocating listing the IPO on the New York Stock Exchange, especially as his relationship with the White House deepens. However, most Saudi officials seem to prefer using the London Stock Exchange because  London would bring less scrutiny of the company's oil reserves than its U.S. counterpart would.  Quote Share this post Link to post Share on other sites
Joanna + 68 JT January 3, 2018 23 hours ago, Stephen said: Tweet policy again. Don't we have someone that might make a deal behind closed doors with them? And negotiate? Quote Share this post Link to post Share on other sites
Kate Turlington + 44 KT January 3, 2018 Hong Kong even less Quote Share this post Link to post Share on other sites
JohnAtronis + 78 JA January 3, 2018 Here is good analysis on the issue https://www.forbes.com/sites/ellenrwald/2017/10/22/5-ways-a-saudi-aramco-ipo-could-play-out/#5654b76138a2 Quote Share this post Link to post Share on other sites
Stephen + 67 SM January 3, 2018 Trump has stuck us with the wrong Arabs and supported a illegitimate blockade against Qatar. That gold medal and $100 million dollars from the Saudis are paying off Quote Share this post Link to post Share on other sites
JohnAtronis + 78 JA January 3, 2018 10 minutes ago, Joanna said: The way I see it, Salman is advocating listing the IPO on the New York Stock Exchange, especially as his relationship with the White House deepens. However, most Saudi officials seem to prefer using the London Stock Exchange because  London would bring less scrutiny of the company's oil reserves than its U.S. counterpart would.  In order to list on the NYSE, Aramco would be subject to investor protecting, reporting requirements that might leave them vulnerable to lawsuits in the US. MBS wouldn't tolerate such insolence. Quote Share this post Link to post Share on other sites
JohnAtronis + 78 JA January 3, 2018 On 1/2/2018 at 1:37 PM, Kate Turlington said: Just saw that London regulators have delayed changing the rules to allow Aramco to be listed on the London Stock Exchange. Wonder what that means for the IPO? This is Brexit UK. Deal first - ethics later. Quote Share this post Link to post Share on other sites
Joanna + 68 JT January 3, 2018 8 minutes ago, JohnAtronis said: This is Brexit UK. Deal first - ethics later. Brexit? Do you really think other European nations are not out there too fishing? Quote Share this post Link to post Share on other sites
Meanwhile + 49 PT January 3, 2018 On 1/2/2018 at 1:37 PM, Kate Turlington said: Just saw that London regulators have delayed changing the rules to allow Aramco to be listed on the London Stock Exchange. Wonder what that means for the IPO? Why are Saudi's doing this I will never know. Their country only stays afloat because of oil revenue and putting that revenue into foreign "investors" isn't going to do that. Maybe is a part of strategy to shift from oil? Quote Share this post Link to post Share on other sites
Stephen + 67 SM January 3, 2018 6 minutes ago, Meanwhile said: Why are Saudi's doing this I will never know. Their country only stays afloat because of oil revenue and putting that revenue into foreign "investors" isn't going to do that. Maybe is a part of strategy to shift from oil? The Saudi cash is beginning to run out, the next 5 years are going to bring some interesting developments in the region. Quote Share this post Link to post Share on other sites
JohnAtronis + 78 JA January 3, 2018 Take oil away from the ME and it's 250 Million inhabitants have a total GDP less than that of Finland Quote Share this post Link to post Share on other sites
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