Saudi Arabia Lines Up Goldman, Citi for Aramco Share Sale - Bloomberg
Saudi Arabia is set to hire banks including Citigroup Inc., Goldman Sachs Group Inc. and HSBC Holdings Plc for a secondary share sale in Aramco, a deal that would raise about $20 billion and rank among the biggest offerings in recent years, people familiar with the matter said.
The world’s biggest oil exporter is also in talks with other banks as it pulls together a roster of advisers for the offer that may come in the next few weeks, the people said, asking not to be identified because the information is private.
The lineup of advisers may still change, the people said. There’s no final decision on the timing of the sale or the number of shares the government will sell, and the offering could yet be delayed, they said.
Aramco, Citigroup, Goldman and HSBC declined to comment.
Some of these Wall Street banks also worked on Aramco’s initial public offering in 2019, when they were paid minuscule fees by global standards. They’re now coming back to work on the follow-on offer, which may also help them get other business in the kingdom as Crown Prince Mohammed bin Salman pushes ahead with an ambitious plan to diversify the economy.
No comments:
Post a Comment