Tokyo seeks return to glory days with piece of Saudi Aramco IPO

(July 18): When members of Saudi Arabia’s royal family visited Japan last September and again in March, the Asian country made sure at least one message got through: Please list Saudi Aramco in Tokyo.

In September, Prime Minister Shinzo Abe delivered the message himself to then Deputy Crown Prince Mohammed bin Salman, while Japan Exchange Group’s chief executive, Akira Kiyota, tried to win King Salman’s approval in March. The conversations never stopped, with Tokyo executives visiting Saudi Arabia in October, December and again in March to explain why Japan would be ideal for the world’s largest oil company to go public.

“It’s going to be one big epic event,” Kiyota said in an interview at the exchange headquarters in Tokyo. “If all goes well, we want other foreign companies to opt for Tokyo as a destination for their initial public offerings.”

---

Related Stories

• Saudi Arabia’s rating upgraded by Moody’s for the first time
• Citi gets nod from Saudi Arabia for regional HQ in Riyadh
• Lexus lessons for China in tackling tariffs

---