Feb 21 Oil giant Saudi Aramco IPO-ARMO.SE has
selected JPMorgan Chase & Co, Morgan Stanley, and
HSBC Holdings Plc as lead underwriters on the firm's
planned initial public share offering, the Wall Street Journal
reported on Tuesday, citing people familiar with the matter. (on.wsj.com/2lkNzAA)
Saudi Arabian Oil Co, known as Saudi Aramco, was not
immediately available for comment.
Saudi authorities are aiming to list up to 5 percent of the
world's largest oil producer on both the Saudi stock exchange in
Riyadh, the Tadawul, and one or more international markets in an
IPO that could raise $100 billion.
The listing is the centerpiece of a Saudi Arabian government
plan to transform the kingdom by enticing investment and
diversifying the economy away from reliance on oil.
(Reporting by Ismail Shakil in Bengaluru; Editing by James