Aramco Bond Success Puts Lazard in Pole Position for Coveted IPO - Bloomberg

Aramco Bond Success Puts Lazard in Pole Position for Coveted IPO - Bloomberg:

Lazard Ltd.’s success working on the blockbuster Saudi Aramco bond sale this year has put it in pole position to secure a coveted spot on the oil giant’s second attempt at the world’s largest initial public offering.

Several rival bankers seeking a role on the IPO expect Lazard to get an advisory mandate, thanks to its work on the debut bond sale by Aramco that attracted more than $100 billion of orders, people with knowledge of the matter said.

The boutique advisory firm has been pushing hard in recent weeks to win a role on the planned share sale, sending some of its top global dealmakers from London, Paris and Houston to woo Aramco officials at meetings in the Middle East, the people said. Lazard, run by Ken Jacobs, is likely to replace one of the original advisers that previously worked on the listing plans, the people said, asking not to be identified because the information is private.