John Lee, chief executive of Hong Kong, is seeking to persuade Saudi oil giant Aramco and its affiliated units to consider a secondary listing in the Asian financial hub where he began his first official visit to the Middle East, according to the South China Morning Post.
Lee begins a campaign to attract new investment to the city after nearly three years of pandemic isolation. He will meet with senior Saudi Aramco executives to highlight what Hong Kong can offer as an international financial centre, according to the report, which Lee is quoted as saying he will do his best to encourage the oil producer to list in the city.
The report quoted Lee as saying on Sunday after arriving in the Saudi capital of Riyadh, Hong Kong was a popular hub for sovereign fund activity and corporate listing. Aramco's business is very diverse with its various affiliates, and the plan is to "encourage them to come to Hong Kong to share business, including listing in the city."
Saudi Arabian Oil Company, as officially known and worth up to $2 trillion, avoided international listing and listed its shares in the Saudi capital Riyadh in 2019. With a $29 billion share offering, it was the world's largest listing.
Li was received at the airport by Saudi Deputy Minister of Investment Badr al-Bader, Hamad Jabarin, Consul General of Saudi Arabia in Hong Kong, and Yin Legon, Deputy Head of Mission at the Chinese Embassy in the country, according to the Chinese newspaper.
