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Japan’s Mizuho Plans Saudi Expansion as Aramco IPO Tempts Banks

  • Plans to boost advisory services, eyeing Japanese investors
  • Sees five-fold jump in debt capital market deals since 2015
Bloomberg business news

Mizuho Financial Plans Saudi Expansion

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Mizuho Financial Group Inc., the fourth-largest lender to Saudi Arabia, is expanding advisory services in the kingdom, as banks jockey for a role in Saudi Aramco’s expected $100 billion initial public offering.

"We are moving from being a leading lending bank to Saudi Arabia to becoming much more of a partner to the kingdom by advising and assisting Asian investors," Hidefumi Takeuchi, who oversees the Middle East, North Africa and Central Asia for Japan’s third-largest lender by market value, said in an interview in Dubai.