• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry
Record Surge in Global Coal Capacity Led by China

Record Surge in Global Coal Capacity Led by China

China’s massive annual additions of…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

London Proposes New Listing Structure To Attract Aramco Listing

The London Stock Exchange is trying to attain the Saudi Aramco listing by proposing a new structure that would make it more attractive for Riyadh to select the bourse, according to an exclusive report by Reuters.

Anonymous sources close to the matter said the LSE and the United Kingdom Listing Authority might set up a new category of companies on the exchange, which would attract listings from large foreign companies that do not want to sell a sizeable share of their corporation in an initial public offering.

Currently, the LSE offers two categories of listings. The premium category requires companies to list at least 25 percent of their shares in free float. The restrictions in the second “standard” category are less onerous, though the stocks in the section tend to be less desirable by investors. Saudi Aramco plans to offer just five percent of its company in its 2018 IPO, so neither option is a good fit for Riyadh’s vision.

But if implemented, the plan for a new international category would bridge the gap between the two options. It would meet investors’ “prestige” expectations while allowing Aramco to maintain control of its corporate life.

"Our recent work considers some important questions about the primary markets, and some potential enhancements, and are part of the Financial Conduct Authority’s wider work on UK primary markets as set out in our 2016/17 Business Plan," a spokesman told Reuters in response to questions about the creation of a new segment.

Related: Kuwait Sees $80 Oil By 2020

The KSA’s IPO of its prized oil company has caused a flurry in the international financial community. The government is expected to list the company in the domestic exchange, called Tadawul, and one foreign stock market. So far, New York, Hong Kong, Toronto, London, and several other cities have announced their interest in hosting the listing, but a decision is yet to be made.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News