February 28, 2018 / 10:39 AM / 7 months ago

HKEX executive says maintaining active dialogue with Saudi Aramco on IPO plan

HONG KONG (Reuters) - Hong Kong Exchanges & Clearing (HKEX) (0388.HK) is still maintaining an “active” and “good conversation” with Saudi Aramco about its planned massive share sale, the head of HKEX said on Wednesday.

FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo

At a news conference after announcing its results, Charles Li, however, said HKEX doesn’t have visibility about Saudi Aramco’s listing plan.

The Saudi government says Aramco is worth $2 trillion (£1.44 trillion) and aims to list on one or more foreign stock exchanges in addition to Riyadh.

In an interview with Reuters in November, Li had said a Hong Kong listing by Aramco would help the oil giant secure huge Chinese demand for its planned $100 bln share sale.

Reporting by Sumeet Chatterjee; Writing by Anshuman Daga; Editing by Muralikumar Anantharaman

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