Saudi Aramco has hired nine banks as joint global coordinators to lead its plann...
JPMorgan, Bank of America, Credit Suisse and HSBC declined to comment. Aramco and the remaining banks did not immediately respond to a request for comment.
Rumayyan, a close ally of Prince Mohammed, took over from former energy minister Khalid al-Falih in a move to separate Aramco from the ministry, a step Saudi officials have said was important to pave the way for the IPO. Aramco’s chief executive, Amin Nasser, said this week that the domestic IPO would be the “primary” listing but that the company was also ready for an international share sale. He said the final decision on venue and timing rested with the government.
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