Goldman, HSBC Said Among Banks on Saudi Exchange IPO Shortlist

  • IPO could raise more than $500 million for a 30% stake
  • JPMorgan, Morgan Stanley also said to be in the running

A man stands on an escalator at the Tadawul Saudi Stock Exchange, in Riyadh.

Photographer: Hasan Jamali/AP Photo

Goldman Sachs Group Inc. and HSBC Holdings Plc are among banks shortlisted by Saudi Arabia’s stock exchange to help manage its initial public offering, according to people familiar with the matter.

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