SAUDI ARABIA OIL COMPANY
Hong Kong pins Aramco IPO hopes on China’s deep pockets
The world’s largest oil importer, as well as deep-pocketed investors, make Hong Kong Exchanges and Clearing best to win the $100bn Saudi Arabian oil giant's listing, says bourse chief
Hong Kong — Hong Kong’s stock exchange will bank on its role as a gateway to mainland China’s deep-pocketed investors to take on other leading venues and win the coveted $100bn listing of Saudi Arabia’s giant state oil company Aramco, it said on Monday. Charles Li, the CEO of Hong Kong Exchanges and Clearing (HKEX), said access to Chinese capital and China’s role as the world’s largest importer of oil made Hong Kong a viable contender in the frantic race between listing venues. Chinese banks are also expected to play a part. Industrial and Commercial Bank of China and China International Capital Corporation are among the Chinese banks that are pitching for an advisory role.
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