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Fund manager Royal London says bending of UK listing rules for Saudi Aramco IPO "highly inappropriate"
June 8, 2017 / 8:46 AM / 6 months ago

Fund manager Royal London says bending of UK listing rules for Saudi Aramco IPO "highly inappropriate"

LONDON, June 8 (Reuters) - A change in UK listing rules for a potential initial public offering of oil giant Saudi Aramco would be “highly inappropriate”, fund manager Royal London said on Thursday, adding it would lobby strongly against such a move.

“Any attempt to bend the listing rules in order to facilitate the IPO of Saudi Aramco is highly inappropriate and flagrantly ignores the principles which the UK’s listing rules were designed to defend,” Ashley Hamilton Claxton, corporate governance manager at Royal London, said in a statement.

Exchanges around the world are vying for a piece of Saudi Aramco’s IPO, expected to be the largest in history.

Reporting by Carolyn Cohn; editing by Dasha Afanasieva

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