FCA’s easier rules for Aramco raise hackles
The Financial Conduct Authority’s plan to create a new premium listing category in the UK for companies controlled by sovereign states is already dividing market opinion. The move, put out for consultation on Thursday, looks like a bid to lure to the IPO of Saudi Aramco, which could be the biggest flotation ever, to the London Stock Exchange.
The regulator has fast-tracked this proposal, ahead of other ideas it is considering as part of its Review of the Effectiveness of Primary Markets.
"We didn't know this was coming," said Edward Bibko, EMEA head of capital markets at law firm Baker McKenzie. "People knew the UKLA was talking
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