Saudi Arabia is in 'serious discussions' with the NYSE in what could be the biggest IPO ever

• Eric Walsh, Yara Bayoumy, Reuters

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A Saudi Aramco employee sits in the area of its stand at the Middle East Petrotech 2016, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain, September 27, 2016.REUTERS/Hamad I Mohammed

WASHINGTON (Reuters) - Saudi Arabia is having "serious discussions" with the New York Stock Exchange about having the NYSE as one of the exchanges for state oil giant Saudi Aramco's IPO, the Saudi foreign minister told Fox News on Thursday.

"Our objective is to try to complete the IPO sometime in 2018. There are serious discussions with the New York Stock Exchange about having the NYSE be one of the exchanges for the Aramco IPO and I believe the decision will be made on the financial merits," Adel al-Jubeir told Fox News.

(Reporting by Eric Walsh; Writing by Yara Bayoumy; Editing by James Dalgleish)

Read the original article on Reuters. Copyright 2017. Follow Reuters on Twitter.

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