News Oil 

Saudi Aramco gives nine banks top roles on world’s biggest IPO: sources

“The mandates have been heavily sought by the world’s biggest investment banks for a transaction which, according to Saudi Crown Prince Mohammed bin Salman’s initial plans, could generate around $100 billion for Saudi Arabia’s state coffers” writes Midwest Communications Inc for DUBAI (Reuters) – Saudi Aramco has hired nine banks as joint global coordinators to lead its planned initial public offering (IPO), slated to be the world’s largest, two sources familiar with the matter told Reuters on Wednesday.The flotation is crucial for Prince Mohammed’s plans to diversify the Saudi economy in an era of low oil prices.

Related posts