Aramco has insisted that it remains on track for its target of holding the float in 2018 AlamyThe City regulator has delayed a decision on an overhaul of stock market rules that would enable the $2 trillion float of Saudi Aramco to take place in London. The Financial Conduct Authority launched a consultation last July on proposals to create a new category of premium listing for companies controlled by sovereign powers. This would enable Saudi Arabia to choose London as the main international venue for its initial public offering of Aramco, its state oil giant. The authority had said that it would publish its new rules by the end of 2017, but it is understood that the regulator is still considering consultation responses, many of them highly critical, and is unlikely to take a decision for weeks. Mohammed bin Salman, the crown…

Source: The Times January 01, 2018 00:02 UTC