Deals
Aramco Hires JPMorgan, Morgan Stanley, HSBC for IPO Roles
- Global banks will join Moelis, Evercore and Michael Klein
- Saudi oil company’s IPO could be the biggest listing ever
QuickTake: Aramco’s Profits Shrouded in Secrecy
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Saudi Arabian Oil Co. has appointed JPMorgan Chase & Co., Morgan Stanley and HSBC Holdings Plc for key roles on its initial public offering, according to people familiar with the matter, as it moves ahead with its plans for what could be the world’s biggest share sale.
The global banks will act as advisers on the listing, the people said, asking not to be named because the discussions are private. A representative for Aramco, as the company is known, said it doesn’t comment on rumors or speculation. Representatives for JPMorgan and Morgan Stanley declined to comment. HSBC didn’t immediately respond to a request. The appointments were reported earlier by Reuters.