- Several rival bankers expect Lazard (LAZ +2.9%) to win an advisory mandate for Saudi Aramco's (ARMCO) next attempt at the world's largest initial public offering.
- Lazard's role in the oil giant's bond sale this year gives it a leg-up in winning a prized spot on the company's second attempt at an IPO, they said, according to Bloomberg.
- Aramco's inaugural bond sales attracted more than $100B of orders for the $12B issue, said people with knowledge of the matter.
- Lazard is likely to replace one of the advisers who worked on the original listing plans. Evercore (EVR +0.8%) and Moelis (MC +1.3%), along with HSBC Holdings (HSBC +1.2%), JPMorgan Chase (JPM +1.1%), and Morgan Stanley (MS +1.2%) worked on the original plans for Aramco to go public.