Canada's TSX in talks with Aramco for overseas listing

Canada’s TMX Group Ltd is continuing to hold talks with Saudi Aramco to get the world's largest oil producer to list on the Toronto Stock Exchange (TSX), its CEO Lou Eccleston told Reuters last week.

“I don’t think the door is ever closed,” he said.

“I don’t think wherever Aramco does initially list will be the only place ... I don’t think we’re ever out of the game,” Eccleston said, adding that TMX was “constantly talking to Aramco”.

The overseas listing of Aramco could raise TMX’s global profile and generate significant revenue, the news agency said. 

Saudi Arabia is planning to sell a 5 percent stake in Aramco, as the Kingdom looks to diversify its economy through privatization and fiscal reforms. The listing is expected to be the world’s largest, valued at $100 billion.

A number of international bourses are vying for the IPO, including New York, London, Hong Kong, Tokyo, and Toronto.