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Nisha Gopalan

Snagging Aramco Won't Be Easy, Singapore

Other markets also have cornerstone investors that would benefit Aramco.

Singapore's desire to host the IPO of Saudi Arabian Oil Co. is understandable. Whether the city-state is the best venue for what could be the world's largest ever share sale is another matter.

The island is considering a range of measures to lure Aramco, including inviting one of its state investment companies to become a cornerstone investor. And Singapore is Asia's No. 1 oil-trading center, so investors should have a good understanding of the industry.