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Saudi Aramco formally appoints banks to advise on share sale

Published 30/03/2017, 08:46
© Reuters. Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama
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LONDON (Reuters) - Saudi Aramco has formally appointed JPMorgan Chase & Co (N:JPM), Morgan Stanley (N:MS) and HSBC (L:HSBA) as international financial advisers for its initial public offering, expected to be the world's largest equity sale, sources familiar with the matter told Reuters.

The trio join Moelis & Co (N:MC) and Evercore (N:EVR), which have been appointed independent financial advisers, one source said. The company has also appointed Saudi Arabia's NCB Capital (SE:1180) and Samba Capital (SE:1090) as local advisers, the sources said.

© Reuters. Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama

Saudi Aramco said it did not comment on rumour or speculation.

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