- Home
- >
- Market Rumours
- >
- 3 banks just landed key roles on what could be the biggest IPO of all time
3 banks just landed key roles on what could be the biggest IPO of all time
Rating:
Loading...Oil company Saudi Aramco [IPO-ARMO.SE] has selected JPMorgan Chase & Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters for its planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
The listing of Aramco is expected to be the world's biggest initial public offering and could raise up to $100 billion. The IPO is the centerpiece of the Saudi government's ambitious plan, known as Vision 2030, to diversify the economy beyond oil.
The IPO plan has been championed by Deputy Crown Prince Mohammed bin Salman, who oversees the country's energy and economic policies. Last year, he said he expected the IPO would value Aramco at a minimum of $2 trillion, and that the figure might end up being higher.
Saudi Arabia is considering two options for the shape of Aramco when it sells shares in the national oil giant next year: either a global industrial conglomerate or a specialized international oil company, industry and banking sources have told Reuters.
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
