Riyadh - Mubasher: Saudi Aramco is seeking to raise about $2 billion in its debut bond sale, sources told Bloomberg on Tuesday.

The company will sell SAR Islamic bonds (sukuk) in the second quarter of 2017, according to Bloomberg, which indicated that the sukuk may be privately placed with investors.

Local papers reported that Aramco has chosen JP Morgan Chase, Morgan Stanley, and HSBC Holdings to be the main underwriters covering the IPO of the company.

Aramco plans to issue 5% of the company’s shares for public offering next year.