Aramco IPO takes center stage as Nasdaq CEO touts exchange
DUBAI, United Arab Emirates (AP) — The chief executive officer of Nasdaq, one of several exchanges around the world vying for the international listing of Saudi oil giant Aramco, promoted the exchange to an audience in the Middle East, saying companies that want to be “part of the future” list with the New York-based exchange.
Adena Friedman declined to comment on specific talks with Aramco, but touted Nasdaq’s more than 20-year history with Saudi Arabia’s Tadawul stock exchange. In December, Nasdaq signed an agreement with Tadawul to upgrade the Saudi exchange’s infrastructure.
Aramco’s $100 billion listing, expected to take place on the Tadawul and another exchange, is gearing to be the largest IPO ever.
Speaking in Dubai on Monday, Friedman said large companies with dual listings in different time zones can generate more liquidity from investors.