Independent investment bank Moelis & Co. was reportedly chosen as an adviser for the planned IPO of Saudi Aramco on Tuesday. Moelis had previously advised luggage maker, Samsonite, on its USD1.3bn IPO in 2011 and plastic pipe company, Polypipe Group Plc, on its GBP320mn IPO in 2014. Aramco had invited banks in January to pitch for an advisory position; to evaluate Aramco's business and help it with measures surrounding the share sale. JPMorgan Chase & Co. and Michael Klein, former Citigroup Inc. investment banker who runs his own advisory firm, have already been selected to advise on the IPO. Klein is providing strategic advice to the government, while JPMorgan is working on preparations for the IPO and may be amongst the banks that underwrite the listing, the sources said. (Reuters, Bloomberg)