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.
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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.