Goldman Sachs And Citi To Lead Saudi Aramco IPO

9 Jan 2018   Saudi Arabia

U.S. investment banking giants Goldman Sachs and Citi are lined up to lead the initial public offering (IPO) of part of Saudi Aramco, according to reports. The Saudi state-owned oil producer plans to list this year in what is expected to be one of the largest share offerings ever, if Aramco’s target valuation of $2 trillion (£1.5 trillion) is achieved. The two banks will be joined on the mega-deal by JP Morgan, HSBC and Morgan Stanley in global coordinator roles, with the mandates potentially finalised at some point this week, according to Bloomberg . The appointment of advisors would mark an important step before the float, after Aramco officials were forced to reiterate their plans for a 2018 listing at the end of last year. A decision also remains to be made on the listing venue for the IPO, with London and New York thought to be among the […]

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