Toronto knocked out of running for Aramco IPO as Saudi Arabia shortlists New York, London and Hong Kong

DUBAI/LONDONSaudi Arabia has shortlisted New York, London and Hong Kong — singly or in a combination of two or even all three — for the international portion of the listing of national oil company Aramco, two sources with knowledge of the discussions said.

The initial public offering (IPO) will also include the Saudi stock exchange, Tadawul, and is still set for late 2018, the sources said.

The shortlist means Tokyo, Singapore and Toronto are no longer in the running for what is...

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