Banking

Hong Kong bourse working “very hard” to win potential Aramco listing-CEO

HONG KONG Feb 27 The Hong Kong stock exchange has had discussions with Saudi Arabia's giant state oil company Aramco and is working "very hard" to win a potential $100 billion listing, the bourse's CEO Charles Li said on Monday.

Speaking during Hong Kong Exchanges and Clearing's (HKEX's) annual earnings briefing, Li said the Asian time zone and access to Chinese capital are key advantages for a potential Aramco listing in the city.

The Saudi authorities are aiming to list up to 5 percent of the world's largest oil producer on both the Saudi stock exchange in Riyadh, the Tadawul, and one or more international markets, sparking a frantic race among bankers and exchange groups to nab the mega deal. (Reporting by Michelle Price; Editing by Muralikumar Anantharaman)

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