Bruised bankers seek consolation prizes after shelved Aramco IPO | Reuters:
Investment banks which lost out on big payouts for the work on the shelved listing of oil giant Aramco are lining up for a raft of other projects as Saudi Arabia pursues reforms.
Banks including JPMorgan (JPM.N) and Morgan Stanley (MS.N) worked for months to prepare what would have been the biggest ever stock market debut. But the plan to sell 5 percent of the company for a targeted $100 billion was pulled.
The bankers were paid retainer fees but were expecting around $200 million would be shared among all the banks involved when the deal was done.
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