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LSE CEO taking part in Saudi Arabia visit by British PM May
April 4, 2017 / 1:07 PM / in 4 months

LSE CEO taking part in Saudi Arabia visit by British PM May

LONDON/DUBAI, April 4 (Reuters) - London Stock Exchange CEO Xavier Rolet is due to meet Saudi officials in Riyadh as part of a visit by British Prime Minister Theresa May, a spokeswoman for the exchange said on Tuesday.

The LSE and other top stock exchanges are pitching to win a slice of state oil company Saudi Aramco's initial public offering, expected to be the world's largest.

Aramco is expected to list a small portion of its shares on the Saudi stock market, with the rest likely to go to one, two or possibly three of the world's biggest exchanges.

The IPO, expected in 2018, could be worth around $100 billion, Saudi officials have said.

Rolet will attend a finance roundtable which Prime Minister May will host at the Saudi stock exchange on Tuesday, a spokesman for the prime minister office confirmed.

May arrived in the Saudi capital on Tuesday, official Saudi state news agency, SPA reported.

New York, Hong Kong, Singapore, Tokyo and Toronto are also seeking to win a slice of the offering and Saudi officials have been meeting with exchanges to decide where the shares should be traded. (Dasha Afanasieva and Kylie Maclellan in London ,Reem Shamseddine in DUBAI and Marwa Rashad in Riyadh; editing by Jason Neely)

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