Saudi Aramco Weighs Rolling Bank Mandates for Record IPO - Bloomberg:
"Saudi Arabian Oil Co. is weighing a plan to hire investment banks for different stages of its initial public offering, four people with knowledge of the matter said.
The company -- known as Saudi Aramco -- is talking to banks for a role as financial adviser to review potential listing destinations and prepare the company for the float, the people said, asking not to be identified as the talks are private. Banks that do well in that role will then be considered for subsequent stages including underwriting, the people said. Aramco may re-tender the work if they’re unhappy with a bank’s performance, they said.
No final decisions have been made on the advisory roles, though Aramco is expected to mandate banks in coming days, the people said."
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