Home News Company in the news

Saudi oil giant Aramco seeking secondary listing in either London or Singapore: reports

Jovi Ho
Jovi Ho2/7/2022 10:25 AM GMT+08  • 3 min read
Saudi oil giant Aramco seeking secondary listing in either London or Singapore: reports
Over the weekend, the world's most valuable oil company tipped its hand on a multi-billion dollar deal that may land in Singapore.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

With oil prices on the uptrend, investors are keeping a close watch on the oil giants of the Middle East — especially Saudi Arabia’s leaders. Over the weekend, the world's most valuable oil company tipped its hand on a multi-billion dollar deal that may land in Singapore.

Saudi Aramco is looking to sell as much as a US$50 billion ($67 billion) stake, or 2.5% of the company, and has held talks on selling the additional shares on the Riyadh stock exchange and a secondary listing, possibly in London or Singapore, reported The Wall Street Journal on Feb 4.

The listing of shares would mark the largest in the history of capital markets, breaking a record set by the company itself. Aramco was behind the world’s largest initial public offering in 2019 when it raised US$29.4 billion on the Saudi stock exchange. Even so, the record-smashing IPO listed just 1.5% of the company, a scaled-back iteration of the original plan to list 5% of the company for up to US$100 billion.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now