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Saudi Aramco has named nine of the world's largest banks the lead in its IPO, which would be the largest public offering ever made, Reuters reported on Wednesday, citing two sources knowledgeable about it .
The winners of the world's largest stock sale that will serve as global coordinators are JP Morgan, Morgan Stanley, Bank of America Merrill Lynch, Goldman Sachs, Credit Suisse, Citi, HSBC, as well as the National Commercial Bank of Canada. Saudi Arabia, Samba. Reuters.
JP Morgan, Morgan Stanley and the National Commercial Bank had been working on the initial public offering before the Saudis put it on hold last year, sources said.
Earlier this week, reports revealed that JP Morgan had become the favorite of the role of senior advisor in the IPO of Aramco.
The Saudi oil giant is ready to be listed on the international markets, alongside its main listing on the Saudi stock exchange, said Tuesday the director general of Aramco, Amin Nasser, while the Kingdom had significantly accelerated the timetable for its introduction in stock Exchange.
The leader of the Saudi state oil company reiterated that it was up to the company's sole shareholder, the Kingdom of Saudi Arabia, to decide when the registration will take place.
Last week, Saudi Arabia began accelerating Aramco's IPO. Khalid al-Falih has lost his role as Chairman of the Board of Aramco and Minister of Energy Kingdom. Abdulaziz bin Salman, son of the king and half-brother of Crown Prince Mohammed bin Salman, is the new energy minister and represents a new merger of power around the crown prince.
The new Saudi energy minister, Abdulaziz bin Salman, said in his first public comments on Monday after replacing al-Falih that the Kingdom's aim was to make the IPO "as soon as possible".
Aramco CEO Nasser said Tuesday that a list of the domestic market would be put in place "very soon".
By Tsvetana Paraskova for Oilprice.com
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