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Saudi Aramco's IPO plans criticized in London

A series of investors call for the London Stock Exchange to reject state-owned oil major Saudi Aramco's plans to list 5 percent of the company in London. The size is too small, critics say.

Photo: /ritzau/AP/Matt Dunham

Investors are calling for the UK Listing Authority, UKLA, controller for the London Stock Exchange, to reject oil major Saudi Aramco's plans to list 5 percent of the company in London, reports The Telegraph.

Saudi Aramco's IPO plans are met with criticism from a series of large investors and shareholder associations, as the share offered is so small and would violate the lower threshold of 25 percent for a so-called "premium" listing.

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