September 8, 2019 / 5:20 PM / 2 months ago

JPMorgan close to winning lead advisory role for Saudi Aramco IPO - CNBC

Sept 8 (Reuters) - JPMorgan Chase & Co is close to winning the lead advisory role for Saudi Aramco's initial public offering, CNBC reported cnb.cx/2LyNGEU on Sunday, citing people familiar with the situation.

Reuters reported last month that Aramco formally asked major banks to submit proposals for potential roles in its planned IPO.

Aramco and JPMorgan were not immediately available for comment on Sunday. (Reporting by Kanishka Singh in Bengaluru; Editing by Andrew Cawthorne Editing by Andrew Cawthorne)

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