[ad_1]
Citizen – Riyadh
Aramco has selected a series of domestic and international banks, including JP Morgan and Morgan Stanley, to face its long-awaited IPO, the Financial Times reported.
The state oil company began Wednesday to inform lenders of their permits as the government was accelerating partial privatization with a view to an IPO later this year, said Al Arabiya citing consultants and consultants. bankers involved in the IPO.
If successful, this historic agreement will be one of the largest IPOs in the world, reflecting Prince Mohammed bin Salman's renewed intention to advance his ambitious plan for economic transformation. To assign specific tasks.
Many lenders, such as JP Morgan, Morgan Stanley and HSBC Holdings, were working on the process before it stopped last year, as well as others, including Bank of America. Merrill Lynch and Citibank. Credit Suisse and Goldman Sachs are new to the process. Participating Saudi banks include the National Commercial Bank and Samba.
Some of these banks said that they were still in the race to take the lead in the IPO, without making a final decision or informing them, and were among some forty banks participating in the "Official Contest". This month at the Saudi Aramco office in London. On their roles led by the financial advisor of Aramco, Lazard.
JP Morgan, the World Bank of the Kingdom, is expected to be the largest in the process.
The newspaper said: "There is an idea to list 1% of Tadawul market shares in Riyadh, with a listing of 1% next year.
Amin Al Nasser, managing director of Saudi Aramco, confirmed a few days ago that the IPO would take place "very soon".
Source link
