9/10/2019, 8:03 PM (Source: TeleTrader)
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JPMorgan wins lead role in Aramco IPO - reports

JPMorgan Chase & Co was chosen by Saudi Aramco to play a leading advisory role in its upcoming IPO, AFP reported on Tuesday, citing sources. Reports said earlier that JPMorgan Chase was a favorite for the role.

Earlier in the day, Aramco CEO Ain Nasser said the highly expected IPO is coming "very soon."

Saudi Aramco is expected to list in Riyadh by the end of the year and it is planning an international listing for 2020. The oil giant will likely become the world's most valuable publicly-listed company with valuation expectations at around $2 trillion.

Breaking the News / VP