Ahead of Saudi Aramco IPO, Nasdaq CEO says massive companies could benefit from dual-listing

0
5
Ahead of Saudi Aramco IPO, Nasdaq CEO says massive companies could benefit from dual-listing

Stephen Chernin | Getty Images News | Getty Images

Traffic flows down Broadway past the Nasdaq market site in Times Square October 17, 2002 in New York City.

Nasdaq CEO Adena Friedman said Monday that there is a case for companies on course to deliver a significant amount of liquidity to consider a dual-listing.

State oil giant Saudi Aramco is expected to launch its initial public offering (IPO) in the second half of 2018. The planned floatation has left a flurry of global stock exchanges competing to host the world’s largest oil producer — with the listing poised to become the largest in history.

Speaking to CNBC at the World Government Summit in Dubai, Friedman said a company looking at the prospect of dual-listing across different time zones would usually be able to benefit from “liquidity pools” as people wake up in different parts of the world.

And when asked whether investors could expect to see Saudi Aramco list on the Nasdaq later this year, she replied: “Companies want to be part of the future, they don’t necessarily want to be part of the past… We are extremely proud of all the companies that choose to come to Nasdaq but we don’t comment on any specific issuer.”

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here