JPMorgan sees more Saudi firms looking at overseas listings after Aramco: "JPMorgan (JPM.N) is in early talks with Saudi Arabian companies about overseas listings, its investment bank chief said, raising the possibility that more firms could join oil giant Saudi Aramco IPO-ARMO.SE in seeking an international flotation.
JPMorgan is among the banks advising Aramco on an international public offering (IPO), sources have told Reuters.
Aramco’s listing is part of economic reforms being pushed by Crown Prince Mohammed bin Salman, who wants to make the kingdom less reliant on oil and has been consolidating his power with sweeping arrests that officials say aim to end corruption."
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