The Saudi Aramco IPO raises the competitive instincts of big stock exchanges. New York of course, but now, the London Stock Exchange is trying to get the IPO in London as well. Claiming that, the enormous amount of money to be raised, necessitates that investors in many exchanges are involved.
If the Saudis put 5% of their company on the market, it would mean 50 billion dollars. A huge amount, superior by 100% to the introduction of Alibaba 3 years ago.
Other exchanges are fighting for a piece of the action as well. Singapore, Frankfurt, Paris see themselves as potential participants.
The chief executive of the company is convinced that at least 2 markets are needed.
In the meantime, King Salman is struggling with a huge retinue of 4 big planes packed with princes and economic officials to various rich cities around the world, to show and propose Saudi wares and shares. It is extremely interesting because after tens of years of total silence and secrecy, the Kingdom Is becoming public relations minded. It wants to be recognised for what it is.
And the huge oil income has diminished enormously because of low prices. And as the prices do not seem to increase, it is time to do what other companies and other nations do.
The Saudi Arabia awakening should be followed and watched in both Europe and the US.