HSBC wins mandate on Saudi Aramco IPO, says CEO

24/04/2017 Argaam

UK’s HSBC Holdings Plc has been formally mandated to advise on state-owned Saudi Aramco’s initial public offering in 2018, Reuters reported on Monday, citing chief executive Stuart Gulliver.

 

HSBC will join New York-based JPMorgan Chase & Co and Morgan Stanley as financial advisers on the listing of five percent of Aramco, valued at $100 billion. The listing, set to be the world’s largest, is expected in the second half of 2018.

 

The kingdom had earlier appointed New York-based investment banks Moelis & Co and Evercore Partners Inc. to advise on the share sale.

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