Aramco hires nine banks for IPO top roles: Sources

Saudi Aramco's IPO is slated to be the world's largest. (File photo: Reuters)

Saudi Aramco has hired nine banks as joint global coordinators to lead its planned initial public offering (IPO), slated to be the world’s largest, two sources familiar with the matter told Reuters on Wednesday.

Aramco has selected JPMorgan, Morgan Stanley, and Saudi Arabia’s National Commercial Bank, which were previously working on the share sale before it was paused last year, the sources said, declining to be named due to commercial sensitivities.

It has also chosen Bank of America Merrill Lynch, Goldman Sachs, Credit Suisse, Citi, HSBC, and Saudi Arabia’s Samba, the sources said.

Last Update: Wednesday, 20 May 2020 KSA 09:56 - GMT 06:56