Speedy Aramco IPO Schedule Leaves Research Teams Scrambling - Bloomberg:
Saudi Aramco is wasting no time pushing ahead with its initial public offering, leaving legions of analysts scrambling to prepare research that will help investors decide whether to buy into one of the world’s biggest ever share sales.
Investment banks’ research teams started meeting Wednesday in the desert city of Dhahran for two packed days of briefings by Aramco top brass. They will then have barely three weeks to prepare their pre-IPO reports on Aramco, according to an internal schedule seen by Bloomberg. That compares to six to eight weeks they’re normally given for some of the biggest global listings.
Aramco is speeding up preparations for the IPO with an aim of listing on the Saudi bourse as soon as November, Bloomberg News has reported. For its bankers, the stakes couldn’t be higher: they’ve spent years wooing the oil giant to get a lucrative spot on the deal, which could make Aramco the world’s biggest listed company if it hits its target market capitalization of $2 trillion.
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