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Thu 30 Mar 2017 12:10 PM

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Saudi Aramco appoints banks to advise on share sale

Initial public offering is expected to be the world's largest equity sale

Saudi Aramco appoints banks to advise on share sale
(Getty Images)

Saudi Aramco has formally appointed JPMorgan Chase & Co, Morgan Stanley and HSBC as international financial advisers for its initial public offering, expected to be the world's largest equity sale, sources familiar with the matter told Reuters.

The trio join Moelis & Co and Evercore, which have been appointed independent financial advisers, one source said. The company has also appointed Saudi Arabia's NCB Capital and Samba Capital as local advisers, the sources said.

Saudi Aramco said it did not comment on rumour or speculation.

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