Roll up, roll up, who wants some lovely Saudi dosh that would arrive with a stock market listing in London of Saudi Aramco, the enormous state-owned national oil company?
HSBC has been formally mandated as an adviser on the initial public offering of Saudi Arabia's national oil giant Aramco IPO-ARMO.SE, expected to be the world's largest ever IPO, HSBC's chief executive said on Monday.
London Stock Exchange Group chief executive Xavier Rolet has joined the Prime Minister on a visit to Saudi Arabia at a time he is attempting to win a role in the world’s largest initial public offering (IPO).
Evercore Partners, the U.S. bank founded by Roger Altman, won a role to advise on the planned initial public offering of Saudi Arabian Oil Co., according to people familiar with the matter, getting a coveted spot on what may be the largest-ever listing.
Global banking giants are set to compete for an advisory role on oil goliath Saudi Aramco’s multi-billion-dollar float, which is expected to be the world’s biggest initial public offering.
Top of the agenda.
Saudi Arabia’s potential initial public offering of its state oil company could be the largest ever, a juicy target for any ambitious Wall Street bank. In a country traditionally cold to outsiders, only a few have the experience to win it.
A number of City firms including PwC, Standard Life Aberdeen and the London Stock Exchange (LSE) will be travelling to Saudi Arabia this weekend along with the City of London’s Lord Mayor – but have denied that persuading oil giant Saudi Aramco to list in London will be on the agenda.
The UK is finalising arrangements for a $2bn (£1.52bn) loan guarantee to Saudi Arabia’s national oil company, but the government has denied the support is in any way linked to the the state-owned firm’s potential listing on the London Stock Exchange.
Donald Trump has spoken with the Saudi king about listing oil giant Aramco in the US, the President has revealed, and it's something the country is considering.