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Aramco Readies Banks as IPO Is Coming ‘Very Soon,’ CEO Says

  • Primary exchange to list shares to be in Saudi Arabia: Nasser
  • State oil giant also ready for a listing outside the kingdom
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Saudi Aramco Picks BofA to Join Goldman, JPMorgan for Top IPO Roles

State oil giant Saudi Aramco said it’s lining up banks for its long-awaited initial public offering as the sale is now imminent.

Banks will be chosen “soon,” Chief Executive Officer Amin Nasser said at an industry conference in Abu Dhabi. Confirmation of the underwriters will signal that the share sale -- set to be the world’s largest -- is finally in the offing after plans were put on hold last year.