Reuters are reporting that Singapore Exchange has held talks with Saudi Aramco on a secondary listing, after the oil and gas company suggested last week it would likely list on more than one exchange.
The planned listing next year of up to 5% of Aramco is expected to be the world's biggest initial public offer. Saudi Energy Minister Khalid al-Falih said last week the company was evaluating concurrent listings on more than one exchange.
Talks with the Singapore Exchange were still at an early stage, with Aramco reviewing several markets including New York, London, Hong Kong and Japan.
Aramco, slated to list in 2018, could also interest Singapore's sovereign wealth fund GIC Pte Ltd, but a decision on the size of stake would depend on Aramco's financial details and valuation.
Singapore is a waypoint on the main shipping lanes between the Middle East's exporters and North Asia's leading industrial hubs of China, Japan, South Korea and Taiwan.
To extend its energy trading into financial products, SGX and Japan's TOCOM last November announced they would join forces in order to co-list Asian LNG and electricity futures, and there are also plans to establish more oil futures products.
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