London Stock Exchange chief executive Xavier Rolet joins Theresa May in Saudi Arabia as City hopes to win Saudi Aramco mega-float

William Turvill
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New chief executive of the London Stock
London is believed to be in competition with the likes of New York and Tokyo for Saudi Aramco (Source: Greg Sigston / City AM)

London Stock Exchange Group chief executive Xavier Rolet has joined the Prime Minister on a visit to Saudi Arabia at a time when he is attempting to win a role in the world’s largest initial public offering (IPO).

London is in competition with the likes of New York and Tokyo to co-host the expected flotation of state-owned oil giant Saudi Aramco next year.

Read more: London needs to win over floats like Saudi Aramco

Stock exchanges and bankers across the world are eagerly awaiting the Aramco float, which it is thought could value the company at up to $2 trillion.

In February, it was reported that New York-based investment bank Moelis had been appointed as sole independent adviser to Aramco on the IPO.

Read more: Saudi Aramco mulls $2bn bond sale ahead of mega float

Rolet will join Theresa May at a finance roundtable at the Saudi stock exchange today.

The London Stock Exchange declined to comment.

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