Here in Financial Regulation Matters we have discussed the potential listing of Saudi Aramco on foreign exchanges on a number of occasions ( here , here , and here ). We have discussed the potential impact that this listing may have had upon the regulatory arenas within a given jurisdiction, but recently the rumours were confirmed in that Saudi Aramco has chosen to list on its own stock exchange. The company will list on the Tadawul – Saudi Arabia’s stock market – but not in a dual-listing with another stock exchange, as New York and London had been hoping for. It has been suggested that the listing, of only 1 or 2 % of the company, will see the company valued at between $1.2 and $2 trillion, making it the most valuable company in the world . Saudi Arabia is hoping to monetise its vast fossil fuel-based reserves and this move will potentially see between $40 and $45 billion raised for the Public Investment Fund, which holds stakes in companies such as Uber. Whilst the claims th