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18-Oct-2017 15:23

Ant Financial Services, an affiliate of Alibaba Group Holding, is among the company’s biggest shareholders.

Shares are expected to begin trading on the Hong Kong stock exchange on September 28.The planned Chinese investment makes it more likely that the national energy giant would seek a listing in Asia, with Hong Kong currently the frontrunner among bourses in the region, the same people said.Reuters reported earlier this month that Saudi Aramco’s board would meet in Shanghai in May, its first meeting in China in seven years, as Chinese and Asian investors eye the share offering from the world’s biggest oil exporter.One person involved in discussions between Aramco and potential Chinese investors said the ultimate size of the consortium’s stake had not yet been decided.

That source said the entity that would lead the consortium had also not been decided, with many state-run groups keen to take on the high-profile role.

The crash was found to have been due in part to financial speculation and short sellers, and Gang's former secretary was found guilty of insider trading.