Trading

London’s bid to attract IPOs with ‘Aramco’ listing category flops

Despite a push to get overseas giants to list in the UK, none have come forward

Efforts to woo Saudi Aramco failed, as the City continues to look for ways to bolster its status as a listings hub
Efforts to woo Saudi Aramco failed, as the City continues to look for ways to bolster its status as a listings hub Photo: Getty Images

New listing rules designed by the UK’s financial regulator to attract overseas giants to London have flopped, as none have taken advantage of the regime so far, Financial News can reveal.

The Financial Conduct Authority introduced a new premium listing category for sovereign-controlled companies in July 2018 in a bid to lure state-backed enterprises from across the globe to float in London.

WSJ Logo