Riyadh – Mubasher: Saudi Aramco has chosen US investment bank Evercore Partners Inc. to advise on its planned initial public offering (IPO), according to Bloomberg.
The agency added that Evercore will work alongside the IPO financial advisor Moelis & Co.
“A spokesman for Evercore declined to comment. An Aramco representative said the company doesn’t comment on rumour or speculation,” Bloomberg stated.
Aramco plans to offer 5% of the company’s shares for the public offering next year.
JPMorgan Chase & Co and Morgan Stanley will help in the IPO, while Global law firm White & Case LLP will be a financial advisor.
