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Wednesday, 8 February 2017

Saudi Aramco Picks Moelis to Advise on Biggest IPO - Bloomberg

Saudi Aramco Picks Moelis to Advise on Biggest IPO - Bloomberg:

"Saudi Arabian Oil Co. hired Moelis & Co. to advise on its initial public offering, according to a person familiar with the matter, as it pushes ahead with plans to pursue the world’s biggest share sale.

The New York-based boutique investment bank had been shortlisted as a potential adviser for the deal, people familiar with the matter said last month. Aramco, as the company is known, was seeking an adviser to help it select underwriting banks for the sale, make decisions on potential listing venues and ensure the IPO goes smoothly, the people said at the time.

A representative for Moelis declined to comment. Aramco’s press office in Dhahran, Saudi Arabia, didn’t immediately respond to an e-mail seeking comment outside business hours. The Financial Times previously reported that Moelis won an advisory role on Saudi Aramco’s IPO."

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