Oil giant Saudi Aramco and Tokyo Stock Exchange will look into establishing a group to study the potential listing of the company on the Japanese stock exchange, the Financial Times reported on Monday.
With about 5% of the company in play, Aramco is set for the world’s biggest public offering. It is expected to go public in 2018 with a valuation of $2 trillion. The government-controlled oil enterprise is reportedly considering the New York Stock Exchange for its listing, as well as exchanges in London and Toronto, and Saudi Arabia's Tadawul.
The Saudi king arrived in Japan yesterday for a four-day state visit. Following his summit with Prime Minister Shinzo Abe, King Salman is set to meet Emperor Akihito and Crown Prince Naruhito. The deal to explore the possibility of listing Aramco on TSE was one of the agreements signed by the two governments today in an effort to enhance economic cooperation.
