The UK’s Financial Conduct Authority (FCA) is considering the creation of a new category for companies that will include those controlled by a shareholder that is a foreign sovereign, which will allow them to list on the London Stock Exchange.
The move is considered to be an attempt to woo Saudi Aramco to the exchange, according to The Guardian.
Aramco intends to float a small stake in the company on multiple exchanges. Some investors have warned that watering down FCA rules could damage London’s reputation...
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