Singapore said to plan incentives to lure Aramco listing

Singapore is mulling incentives to lure Saudi Aramco’s initial public offering (IPO) as global exchanges vie for a part of what could be the world’s largest ever IPO, Bloomberg reported, citing people familiar with the matter.

Singapore is studying proposals, including inviting one of its state investment companies to become a cornerstone investor in Aramco’s IPO, as well as potential Singapore cooperation with the Saudi government on future investments.

The biggest oil trading center in Asia is hoping a full package of government incentives would give it a better chance of winning a piece of the listing than a standalone proposal from the stock exchange, the people said.

Aramco plans to sell 5 percent of its shares in 2018 with a base listing in Riyadh and the company has not yet decided on other venues. The estimated size of the IPO is about $100 billion.