Riyadh – Mubasher: Saudi Arabia could be a "major opportunity" for Morgan Stanley after the country unveiled its plans for Aramco’s initial public offering (IPO), Reuters quoted the bank’s CEO.

James Gorman added that the IPO’s value may reach $100 billion, noting that the opportunities are increasing with the Kingdom introducing a series of reforms to attract foreign capital.

In February, Aramco had asked for help from JPMorgan Chase & Co and Morgan Stanley in its IPO, Reuters reported.