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Saudi Aramco selects JPM, HSBC, Morgan Stanley as IPO lead underwriters

Feb. 21, 2017 6:52 PM ETJPMorgan Chase & Co. (JPM) StockJPM, HSBC, MSBy: Carl Surran, SA News Editor13 Comments
  • Saudi Aramco has told JPMorgan Chase (NYSE:JPM), HSBC and Morgan Stanley (NYSE:MS) that they will be the lead underwriters for its planned IPO, set to be the largest ever, WSJ reports.
  • Analysts say the offering of perhaps 5% of the Saudi Arabian state-owned energy company could fetch as much as $100B-$150B, as the Saudis have estimated that the entire company is valued at more than $2T.
  • Deputy Crown Prince Mohammed bin Salman has said the listing would occur in 2018, but complications restructuring Aramco and disentangling its finances from the government reportedly could delay the IPO until 2019.

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