Aramco hires UBS, Deutsche as bookrunners for its IPO
Aramco hired UBS Group and Deutsche as bookrunners for its initial public offering (IPO), two sources familiar with the matter said, in a sign that the deal is moving ahead despite a recent attack on Saudi oil facilities. Aramco finalised a list of nine banks for top roles as global coordinators in recent weeks, Reuters reported. More banks are expected to be named in junior roles, the sources said. Aramco’s planned meeting with analysts, ahead of the expected IPO in late November, is also scheduled for early next week, two other sources said. This comes as Aramco asserts that it will resume full production, following the attack, by the end of September.
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