Goldman, JPMorgan Said to Be Among Banks in Top Aramco IPO Roles - Bloomberg

Goldman, JPMorgan Said to Be Among Banks in Top Aramco IPO Roles - Bloomberg:

Saudi Aramco has picked banks including 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.

The oil giant told 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.

Bankers spent the beginning of the month making pitches in Aramco’s headquarters in Dhahran, with some additional presentations in Dubai and London, Bloomberg News has reported. The company invited more than 20 advisory firms from the U.S., Europe and Asia to compete, including some of the world’s biggest underwriters as well as a number of smaller banks.