Singapore Exchange Hopes To Win Listing Of World’s Biggest IPO
Singapore Exchange Ltd claims they are in a strong position to win the listing of the world's biggest IPO, Aramco.
Singapore Exchange Ltd claims they are in a strong position to win the listing of the world's biggest IPO, Aramco. Speaking of this news, Singapore Exchange Ltd CEO Loh Boon Chye, he said: "We're as good as any other exchange and we stand as good a chance as any others." The others he mentioned are the six or more other stock exchanges also vying to list the Saudi state-owned oil giant include: New York, London, Hong Kong and Tokyo.
Aramco has been valued as worth up to US$2 trillion, making this a world-changing listing. “For global companies that have a significant global presence, listing beyond one venue allows for wider investor participation,” Loh said.
The planned debut of Aramco on the stock exchange is a key part in Saudi's new economic plan, led by Crown Prince Mohammed bin Salman, proposed to wean the Kingdom from its economic dependency on oil as reserves continue to decline.