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Europe

May pitches London exchange to Saudis for massive Aramco IPO

Associated Press
Published | Updated
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    In this photo released by Saudi Press Agency, SPA, Saudi King Salman, right, receives British Prime Minister Theresa May, in Riyadh, Saudi Arabia, Wednesday, April 5, 2017. British Prime Minster Theresa May pitched the benefits of the London Stock Exchange on Wednesday during the second day of her two-day visit to Saudi Arabia as it weights which international market to list shares of oil giant Aramco in what many expect will be the largest public offering in history. (Saudi Press Agency via AP) (The Associated Press)

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    In this Tuesday, April 4, 2017 photo released by Saudi Press Agency, SPA, Saudi Crown Prince Mohammed bin Naif bin Abdulaziz, Deputy Premier and Minister of Interior, rear left, meets with British Prime Minister Theresa May, in Riyadh, Saudi Arabia. (Saudi Press Agency via AP) (The Associated Press)

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    In this Tuesday, April 4, 2017 photo released by Saudi Press Agency, SPA, Saudi's Oil Minister Khalid al-Falih, left, poses with British Prime Minister Theresa May, in Riyadh, Saudi Arabia. British Prime Minister Theresa May has arrived in Saudi Arabia on a trip aimed at strengthening bilateral ties and increasing trade with the largest Arab economy. (Saudi Press Agency via AP) (The Associated Press)

RIYADH, Saudi Arabia – Britain's prime minister pitched the benefits of the London Stock Exchange during a visit to Saudi Arabia as the kingdom weighs which international market to list shares of oil giant Aramco in what many expect will be the largest public offering in history.

Theresa May made her pitch Wednesday in Riyadh during the second day of her two-day visit. Saudi Arabia plans to list less than 5 percent of the world's largest oil-producing company on the Saudi exchange and another international exchange, possibly by next year.

May's Downing Street office says she laid out the advantages of doing business in the U.K. during a meeting with Aramco Chairman and Oil Minister Khalid al-Falih.

She also met King Salman Wednesday and discussed the humanitarian crisis in neighboring Yemen.