Riyadh – Mubasher: Saudi Aramco has officially appointed JPMorgan Chase & Co, Morgan Stanley, and HSBC as international financial advisors for its initial public offering (IPO), sources told Reuters on Thursday.
The news agency added that the three banks will join Moelis & Co and Evercore which have been hired as independent financial advisors.
Moreover, sources mentioned that the oil giant has appointed Saudi NCB Capital and Samba Capital as local advisors.
The Kingdom is planning to offer about 5% of Aramco through the IPO, which is expected to take place in early 2018, and to list its shares in the Saudi Stock Exchange (Tadawul) and some global bourses.
Last month, Aramco chose Moelis & Co to manage its IPO and asked JPMorgan and Morgan Stanley to work on the global listing.
