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9/10/2019, 10:14 PM (Source: TeleTrader)
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Goldman Sachs to be lead banker in Aramco IPO - report

Goldman Sachs has been picked as the lead banker in the Saudi Aramco initial public offering (IPO), Fox Business Network reported on Tuesday.

The news comes ahead of one of the most anticipated IPOs and after reports said Aramco picked JPMorgan Chase to be its primary underwriter in the IPO.

Aramco, which is expected to be valued around $2 trillion making it the world's most valuable company, will list a small amount of its shares on the stock exchange in Riyadh later this year. An international listing is expected in 2020.

Breaking the News / VP