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Tuesday, 21 February 2017

Six banks pitched for Aramco IPO role on Saudi bourse: sources | Reuters

Six banks pitched for Aramco IPO role on Saudi bourse: sources | Reuters:

"Saudi oil giant Aramco has received proposals from at least six banks for an advisory role on the firm's planned initial public offering on the Saudi stock exchange, sources familiar with the process told Reuters on Tuesday.

Saudi authorities are planning to list up to five percent of the world's largest oil producer on both the Saudi stock exchange in Riyadh, the Tadawul, and one or more international markets in an IPO that could raise $100 billion.

Riyadh-based HSBC Saudi Arabia, a joint venture between Saudi British Bank and HSBC, NCB Capital, Samba Capital, Saudi Fransi Capital, Riyad Capital and GIB Capital, the investment banking arm of Bahrain-based Gulf International Bank, submitted proposals to Aramco in early February, the sources said."



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