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Saudi Aramco picks banks including Goldman, JPMorgan for IPO roles - Bloomberg

Credit: REUTERS/Brendan McDermid

Saudi Aramco has picked banks including Goldman Sachs Group Inc and JPMorgan Chase & Co for top roles on its planned initial public offering (IPO), Bloomberg reported on Tuesday, citing people with knowledge of the matter.

Sept 10 (Reuters) - Saudi Aramco IPO-ARMO.SE has picked banks including Goldman Sachs Group Inc GS.N and JPMorgan Chase & Co JPM.N for top roles on its planned initial public offering (IPO), Bloomberg reported on Tuesday, citing people with knowledge of the matter.

The Saudi Arabian state oil giant told banks of their selection on Tuesday and it plans to add more joint global coordinators to the deal, Bloomberg said.

JPMorgan declined to comment, while Aramco and Goldman Sachs did not immediately respond to requests for comment.

A source told Reuters on Monday that JPMorgan, Morgan Stanley MS.N and National Commercial Bank 1180.SE are expected to have lead roles and Citi C.N, Goldman Sachs GS.N, HSBC HSBA.L and Samba Financial Bank 1090.SE will likely be added to the banks managing the IPO.

Saudi Aramco prepared for foreign float alongside main domestic listing

(Reporting by Rama Venkat in Bengaluru; Editing by Alexander Smith)

((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 7151;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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