Deals
Saudi Aramco to Seek Pitches for IPO Coordinator Roles
- Oil giant also said to be seeking bookrunners for share sale
- Company is still deciding where to list the shares, CEO says
Adnoc IPO Valuation Holds Lessons for Saudi Aramco
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Saudi Arabian Oil Co. is asking banks to pitch for roles as coordinators and bookrunners on its initial public offering, people familiar with the matter said, as the state-owned crude producer pushes ahead with plans for the world’s biggest share sale.
The company sent out the request for proposals to banks over the past few days and aims to appoint a group of lenders by early next year, said the people, asking not to be identified as the information is private. Saudi Aramco, as it’s known, hasn’t told banks where it plans to list the shares, the people said.