February 28, 2018 / 10:41 AM / 23 days ago

HKEX executive says maintaining active dialogue with Saudi Aramco on IPO plan

HONG KONG (Reuters) - Hong Kong Exchanges & Clearing (HKEX) (0388.HK) is still maintaining an “active” and “good conversation” with Saudi Aramco about its planned massive share sale, the head of HKEX said on Wednesday.

Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed

At a news conference after announcing its results, Charles Li, however, said HKEX doesn’t have visibility about Saudi Aramco’s listing plan.

    Slideshow (2 Images)

    The Saudi government says Aramco is worth $2 trillion and aims to list on one or more foreign stock exchanges in addition to Riyadh.

    In an interview with Reuters in November, Li had said a Hong Kong listing by Aramco would help the oil giant secure huge Chinese demand for its planned $100 bln share sale.

    Reporting by Sumeet Chatterjee; Writing by Anshuman Daga; Editing by Muralikumar Anantharaman

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