#Saudi Aramco asks banks to pitch for roles in IPO: sources - Reuters

Saudi Aramco asks banks to pitch for roles in IPO: sources - Reuters:

Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources said, in what could be the world’s biggest IPO.

Aramco’s planned IPO, which could potentially raise $100 billion, is the centerpiece of Saudi Arabia’s economic transformation drive to attract foreign investment and diversify away from oil. 


Request for proposals were sent to banks few days day ago, they said.