Policy & Regulation

UK considers tweaking rules to let Aramco list on LSE

The UK’s Financial Conduct Authority is considering the creation of a new category for companies to enable Saudi Aramco to list on the London Stock Exchange.
By Staff reporter 14 July 2017 0 26768

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...