ShareAction Warns City Must Notwritten by Bella Palmer
The FCA launched a consultation on proposals to create a new category within its premium listing regime to cater for companies controlled by a shareholder that is a sovereign country, widely seen as paving the way for Saudi Arabia's state-controlled oil firm Saudi Aramco to list.
Saudi Aramco is expected to launch an initial public offering later this year, but is reported to only want to sell a small stake initially, around 5%, which goes against UK rules on listing shares.
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