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Aramco hires 2 global banks for IPO

Aramco hires 2 global banks for IPO
Deutsche and UBS did not comment

Riyadh – Mubasher: Saudi Aramco hired UBS Group and Deutsche banks as bookrunners for its initial public offering (IPO), informed sources told Reuters on Saturday.

The mega oil company assigned global coordinators roles to nine banks, the international news agency reported.

Both Deutsche and UBS did not comment on the matter.

The recent news belittles the impact of the terrorist attacks against two of Aramco’s facilities earlier in September.

In July, Saudi Arabia’s energy minister Khalid al-Falih stated that Aramco’s IPO might take place in 2020 or 2021.