Aramco is considering launching its IPO in two stages. First, on the Saudi stock exchange, Tadawul, then internationally. Initially, the United Kingdom, United States, and China were considered for the second stage, but the unstable political situations in the United Kingdom and Hong Kong begged reconsideration. Aramco also fears facing lawsuits in the United States due to the 2016 Justice Against Sponsors of Terrorism Act, which allows the families of victims of terrorism to sue foreign countries.
- Aramco Proposes Two-Stage IPO, Shunning London, Hong Kong