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UPDATE 1-Saudi Aramco IPO unlikely to require rule changes regulator says


* No major rules changes needed for Aramco IPO – CMA

* May need to look at operations for dual listing

* Saudi Arabia has never had dual listing on Tadawul

(Adds detail, context)

By Katie Paul and Marwa Rashad

RIYADH, Dec 6 Saudi Aramco’s IPO-ARMO.SE
planned flotation is unlikely to require any major changes to
Saudia Arabia’s securities rules, the vice chairman of the
kingdom’s market regulator said.

The kingdom’s state oil giant is targeting 2018 for what is
expected to be the world’s biggest ever initial public offering,
with a listing on both its home exchange and a foreign market
among the options being discussed.

The move is part of Saudi Arabia’s ambitious plans to
diversify its economy away from oil, under the banner of Vision
2030, which includes a greater involvement of the private sector
and improving the efficiency of state-owned companies.

Should a dual listing happen, some work might be needed
involving the management of shares between two markets, such as
the mechanics on the sharing of information on trades, Mohammed
bin Abdullah Elkuwaiz of the Capital Market Authority (CMA) told
reporters on the sidelines of a conference on Tuesday.

Saudi Arabia has never before had a dual listing involving a
company listed on its bourse, which is known as the Tadawul.

“If there is a decision to list in another exchange, whether
it is Aramco or any other company, there would be something that

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