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Saudi Arabia now favors New York over London for its main foreign listing of state oil giant Aramco despite the associated risk of a U.S. listing. sources told Reuters.
Some financial and legal advisers have suggested London as a safer and less risky option over New York. but Saudi Crown Prince Mohammad bin Salman is expected to choose the New York Stock Exchange for `political considerations.` Aramco`s initial public offering could be the biggest in history. worth as much as $2 trillion.
Aramco said no final decision has been made about the company`s foreign listing. Those in favor of a London listing say it will require Aramco to disclose fewer closely guarded details about the company. New York. Salman says. will keep Washington and Riyadh close and offer better access to liquidity and commercial opportunity.
Salman. who oversees Saudi Arabia`s economic and energy policies. ultimately has the final say.
