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Perhaps hedging her bets, Nasdaq CEO Adena Friedman has been advocating that dual-listing in different time zones could help provide needed liquidity for enormous companies like Aramco.
Saudi officials claim preparatory work regarding the IPO has been completed but some key issues — such as where to list — rest with the government. Saudi Crown Prince Mohammed bin Salman is believed to favor listing Saudi Aramco in New York, while officials, including Energy Minister Khalid al-Falih, have reportedly said London could be a better fit. Hong Kong is also in contention. Another option is a Saudi listing alongside an international exchange. A domestic listing and a private sale to a strategic investor — possibly from Beijing — is a third possibility.
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