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.

  • By Aidan Gregory, Jon Hay
  • 13 Jul 2017

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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All International Bonds

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4 Barclays 25,009.79 63 6.22%
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Bookrunners of All Syndicated Loans EMEA

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1 BNP Paribas 299.85 1 21.73%
5 UBS 60.22 1 4.36%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Goldman Sachs 1,607.28 5 22.59%
2 Credit Suisse 1,301.65 4 18.30%
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4 BNP Paribas 522.35 4 7.34%
5 SG Corporate & Investment Banking 444.17 3 6.24%