• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Mortgages
    • Taxation
  • Fintech
  • Regulation
  • In Depth
  • Special Reports
  • Video
  • Directory
  • Advertise with us
  • Events
  • Middle East Hub
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Events
    • Upcoming events
      View all events
  • Middle East Hub
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • In Depth
  • Special Reports
  • Video
  • Directory
  • Regulation

Saudi Aramco adds four more banks as IPO underwriters

Saudi Aramco adds four more banks as IPO underwriters
  • Christopher Copper-Ind
  • Christopher Copper-Ind
  • @intlinvestment
  • 23 September 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Saudi Aramco says it has added several more foreign banks as bookrunners for its long-planned, $2trn intial public offering with a listing of 5% of the company's worth.

According to Bloomberg, the new banks include Barclays, BNP Paribas, Deutsche Bank and UBS Group, which will join Crédit Agricole, Gulf International Bank and Société Génerale as bookrunners for the huge IPO. Citi, HSBC, Credit Suisse Group, JP Morgan and Goldman Sachs are among the banks already tasked with managing the listing.

Related articles

  • Saudi Aramco pushes to complete IPO by year-end
  • Saudi Aramco delays 'biggest IPO'
  • Saudi Aramco's chairman assures attacks will not scupper IPO
  • Saudi Aramco to pay $450m on adviser fees for upcoming IPO

Representatives from the banks are due to travel to the Middle East for meetings with Saudi Aramco management in Dubai this week.

The oil giant - the world's largest - is keen to restore confidence in the IPO in the wake of last week's missile attacks on its Abqaiq and Khurais oil processing plants, which cut the kingdom's output by half."

The oil giant - the world's largest - is keen to restore confidence in the IPO in the wake of last week's missile attacks on its Abqaiq and Khurais oil processing plants, which cut the kingdom's output by half in the immediate aftermath.

The attacks led some anlysts to question Aramco's timetable for the IPO launch. The company, however, inisists it will keep to its schedule and has not informed banks of any plans to delay the listing.

Aramco says it is planning to hold analyst presentations later this week. The company is hoping to list on the Tadawul, the domestic stock exchange in Riyadh as soon as November.  The initial home offering would sell perhaps $25bn worth of shares, before listing in London or New York next year.

Subscribe to International Investment's free, twice-daily, newsletter 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Regulation
  • Saudi Aramco
  • Bloomberg
  • Barclays
  • BNP Paribas
  • deutsche bank
  • UBS Group
  • Citi
  • HSBC
  • Credit Suisse Group
  • JP Morgan
  • Goldman Sachs
  • Middle East
  • Dubai
  • IPO
  • Aramco

More on Regulation

Julius Baer ordered to repay CHF153m by Swiss court

  • Banking
  • 05 December 2019
Australia bank watchdog weighs action against scandal-hit Westpac

  • Regulation
  • 04 December 2019
Swiss regulator proposes sanctions against GAM for not disclosing liabilities

  • Regulation
  • 04 December 2019
Dubai's DFSA inks partnership with Luxembourg regulator on fintech innovation

  • Fintech
  • 03 December 2019
EU's finance chief issues Brexit warning over city of London access

  • Brexit
  • 02 December 2019
Back to Top

Most read

France puts Bahamas and Seychelles on its tax haven blacklist
France puts Bahamas and Seychelles on its tax haven blacklist
Korea's Prudential Life Insurance up for sale
Korea's Prudential Life Insurance up for sale
HMRC lacks staff to investigate over 5.7 million offshore tip-offs
HMRC lacks staff to investigate over 5.7 million offshore tip-offs
Blockchain to become mainstream in finance
Blockchain to become mainstream in finance
'Unprecedented success' in tackling offshore tax evasion: OECD
'Unprecedented success' in tackling offshore tax evasion: OECD
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading