Set to be the biggest IPO of all time, much fanfare has been made of the $100bn for the planned 5% equity sale of Saudi Aramco in 2018. But as the oil giant works to stimulate investor demand, bilateral trade deals are also being struck aimed at ensuring that economic diversification can be achieved for the long-term. 

The planned 2018 flotation of a 5% share of Saudi Aramco, the kingdom’s crown jewel, will make history as the biggest IPO of all time if it raises its targeted...