Saudi Aramco picks Samba Capital as local IPO adviser
Saudi Aramco has reportedly selected Samba Capital as one of two banks to work as an adviser on its planned IPO in Riyadh. The local role will entail working with regulators at Saudi's Capital Market Authority to prepare for the Tadawul listing, which is expected to be smaller than the international portion. At least six investment banks pitched for a role advising on its listing on Tadawul. JPMorgan and Morgan Stanley have been asked to work on the global listing, alongside independent bank Michael Klein and New York-based Moelis & Co., while HSBC is a leading contender for a role, sources said.
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