Deals
Wanted: Banks to Advise on World's Biggest Ever IPO
- Requests send to banks including Goldman Sachs, HSBC
- Kingdom already said to work with JPMorgan on the share sale
Aramco CEO Nasser on IPO, Oil Reserves, Investments
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Saudi Arabian Oil Co. is asking banks including Goldman Sachs Group Inc. and HSBC Holdings Plc to pitch for an advisory role on its initial public offering as it pushes ahead with plans for the world’s largest share sale, three people with knowledge of the matter said.
The company has also sent out the so-called request for proposals to lenders including Credit Suisse Group AG and Morgan Stanley, the people said, asking not to be identified as the process is private. Aramco, as it’s known, is targeting the second or third quarter of 2018 for the IPO and expects to select banks later this year, two of the people said.