Saudi Arabian Oil Co. could have the biggest IPO in history valued at as much as $2 trillion, but the decision to list in New York or London has presented another speedbump, the Wall Street Journal reported.
Saudi Aramco executives want to list on the LSE to avoid risky legal matters in the U.S. But crown prince Mohammed bin Salman and his court want to list on the NYSE to honor longstanding political ties to the U.S. and capitalize on the deepest pool of capital in the world.
Whichever exchange wins the IPO stands to gain fees generated from listing and attract international investors who hike up trading volume.
A decision on where to list was previously expected before the Islamic month of Ramadan, which started in late May.
What's Hot on TheStreet
Amazon car dealer talk won't go away: This news continues to spread around the globe, probably sparking fear in the minds of all used car sales people. As TheStreet reported this week, Amazon (AMZN) has reportedly taken early steps to become an online car dealership in Europe, this according to a German trade weekly called Automobilwoche. The German newspaper cites Christoph Moeller, an industry specialist, as saying he has been placed in charge of the company's European business with car makers. Amazon is said to be planning to run that business out of Luxembourg and is eyeing the U.K. as its possible first market.
Step aside Starbucks: Panera Bread (PNRA) continues to impress on so many fronts. On Tuesday, Panera Bread announced that it has exceeded $1 billion in digital sales. TheStreet reports that the "Amazonization" of fast food continues.
Starbucks (SBUX) isn't the only one who can do digital well.
Apple and cars: TheStreet dives deep into Apple's (AAPL) car ambitions. To be sure, this is a story that is only just starting to play out. Companies from Ford (F) to Uber should be closely planning for Apple's aggression in the auto space over the next five years.
About Uber: Uber's investors continue to back the embattled ride-sharing company, according to TheStreet's sources.
Worried about how to pay for your golden years? Ken Fisher, founder of Fisher Investments, and TheStreet's Jim Cramer will tell you what you need to know in a June 21 webinar on the market trends that are shaping retirement planning today. Register here for the event, which starts at 11 a.m. ET.