Singapore said to plan slew of incentives to lure Saudi Aramco listing, could be world's biggest IPO http://www.straitstimes.com/busines...ew-of-incentives-to-lure-saudi-aramco-listing
Singapore is studying proposals including inviting one of its state investment companies to become a cornerstone investor in Aramco's IPO, as well as potential Singapore cooperation with the Saudi government on future investments, the people said. The biggest Singapore IPO by a foreign company was the US$980 million offering in 2006 from Thai Beverage, the maker of Chang beer backed by billionaire Charoen Sirivadhanabhakdi, according to data compiled by Bloomberg.
The country's plan shows the extent to which Asian economies are vying for a share of the IPO, which is estimated to be about US$100 billion (S$141 billion) in size. Aramco plans to sell shares on at least two or three stock markets in 2018 with a base listing in Riyadh, Saudi Energy Minister Khalid Al-Falih told reporters last week. No single bourse would be able to absorb the entire offering, Al-Falih said.
The kingdom plans to sell less than 5 per cent of Aramco as part of plans by Deputy Crown Prince Mohammed bin Salman to set up the world's biggest sovereign wealth fund and reduce the economy's reliance on oil. Saudi Arabia has estimated that the entire company could be worth more than US$2 trillion.
Singapore is studying proposals including inviting one of its state investment companies to become a cornerstone investor in Aramco's IPO, as well as potential Singapore cooperation with the Saudi government on future investments, the people said. The biggest Singapore IPO by a foreign company was the US$980 million offering in 2006 from Thai Beverage, the maker of Chang beer backed by billionaire Charoen Sirivadhanabhakdi, according to data compiled by Bloomberg.
The country's plan shows the extent to which Asian economies are vying for a share of the IPO, which is estimated to be about US$100 billion (S$141 billion) in size. Aramco plans to sell shares on at least two or three stock markets in 2018 with a base listing in Riyadh, Saudi Energy Minister Khalid Al-Falih told reporters last week. No single bourse would be able to absorb the entire offering, Al-Falih said.
The kingdom plans to sell less than 5 per cent of Aramco as part of plans by Deputy Crown Prince Mohammed bin Salman to set up the world's biggest sovereign wealth fund and reduce the economy's reliance on oil. Saudi Arabia has estimated that the entire company could be worth more than US$2 trillion.
