Aramco Is Said to Pick BofA, Goldman, JPMorgan for Top IPO Roles - Bloomberg:
Saudi Aramco has picked banks including Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co. for top roles on its planned initial public offering following intense lobbying by some of the world’s top dealmakers, people with knowledge of the matter said.
Aramco started telling some banks of their selection Tuesday, the people said, asking not to be identified because the information is private. It plans to add more joint global coordinators to the deal, according to the people.
The energy giant is considering first selling around a 1% stake through a listing on the Saudi stock exchange, with the possibility of selling another 1% on the local bourse at a later date, one person said. Aramco, officially known as Saudi Arabian Oil Co., didn’t immediately respond to a request for comment.
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