• 3 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 6 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 11 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 14 minutes Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 38 mins Shale Oil Fiasco
  • 8 hours Everything you think you know about economics is WRONG!
  • 2 hours USA v China. Which is 'best'?
  • 19 mins Wallstreet's "acid test" for Democrat Presidential candidate to receive their financial support . . . Support "Carried Interest"
  • 8 hours Global Debt Worries. How Will This End?
  • 17 hours My interview on PDVSA Petrocaribe and corruption
  • 7 hours Quotes from the Widowmaker
  • 6 hours Judiciary impeachment: Congressman says Sean Misko, Abigail Grace and unnamed 3rd (Ciaramella) need to testify.
  • 1 day Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 6 hours Tesla Launches Faster Third Generation Supercharger
  • 1 day Petroleum Industry Domain Names
Why Carbon Capture Is Essential For UK Oil And Gas

Why Carbon Capture Is Essential For UK Oil And Gas

Investment in the energy sector…

City A.M

City A.M

CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and…

More Info

Goldman Sachs And Citi To Lead Saudi Aramco IPO

London

U.S. investment banking giants Goldman Sachs and Citi are lined up to lead the initial public offering (IPO) of part of Saudi Aramco, according to reports.

 

The Saudi state-owned oil producer plans to list this year in what is expected to be one of the largest share offerings ever, if Aramco's target valuation of $2 trillion (£1.5 trillion) is achieved.

The two banks will be joined on the mega-deal by JP Morgan, HSBC and Morgan Stanley in global coordinator roles, with the mandates potentially finalised at some point this week, according to Bloomberg.

 

The appointment of advisors would mark an important step before the float, after Aramco officials were forced to reiterate their plans for a 2018 listing at the end of last year.


A decision also remains to be made on the listing venue for the IPO, with London and New York thought to be among the leading contenders for the giant share offering of around five per cent of the oil producer.

The London Stock Exchange's efforts to attract the listing have been strongly backed by the Prime Minister and the chancellor, while the Financial Conduct Authority (FCA) is currently also consulting on changes to listing rules which would make it easier for Aramco to choose the UK.

An end-of-year deadline for the policy statement on the listing proposal from the FCA has passed without any update from the City watchdog.

The banks declined to comment. Saudi Aramco was contacted for comment.

By CityAM

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play