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Hong Kong in running to host world’s biggest IPO after regulators met Aramco executives

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A flame from a Saudi Aramco oil installion near Khouris, 160 km east of the capital, Riyadh. Photo: AFP

Hong Kong sealed its place among the front-runners to host the biggest initial public offering in history after oil giant Saudi Aramco sent its executives to talk with local regulators, according to Carlson Tong Ka-shing, chairman of the Securities and Futures Commission.

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“Saudi Aramco executives visited Hong Kong last month to meet with the SFC and stock exchange executives to understand about the listing regime here,” Tong said on Thursday at a media gathering.

“The SFC fully supports the government and the stock exchange to attract Aramco to list here and will provide all the support it needs.

“Hong Kong is an ideal place for Aramco to list as it is a state-owned oil company in Saudi Arabia.

If mainlanders were allowed to subscribe to the Aramco IPO, it would increase the chances of other oil companies choosing to list here
Carlson Tong, SFC chairman

Hong Kong has a good track record and we have had the whole set of listing rules for many mainland state-owned oil companies to list here for a long time.

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