Singapore Exchange has held talks with Saudi Aramco on a secondary listing, two sources familiar with the matter told Reuters on Monday, after the oil and gas company suggested last week it would likely simultaneously list on more than one exchange.
The planned listing next year of up to 5 percent of Aramco is expected to be the world's biggest initial public offer (IPO). Saudi Energy Minister Khalid al-Falih said last week the company was evaluating concurrent listings on more than one exchange.
The sources told Reuters that the SGX talks were still at an early stage as Saudi Aramco reviews several markets including New York, London, Hong Kong and Japan.
"This transaction is very open and in the public space. The key thing is there is quite a bit of time for due diligence and SGX is keen to play up its international appeal in this sector," said one source.
The Singapore Exchange woudn't confirm that it is in talks with Aramco, but the stock exchange is talking up its credentials as the global competition for the IPO heats up.
"SGX is the world's most international exchange and offers unique access to South East Asia's markets," an SGX representative told CNBC in an emailed statement.
"Singapore is a well-regulated international financial center with strong corporate governance," the SGX statement added.