Five set for Saudi Aramco roles, Moelis must share

Saudi Aramco is set to appoint up to five banks to advise it on its potential initial public offering after a six month pitching process reached its climax this week. Contrary to earlier reports, Moelis & Co will not be the sole adviser, but will be joined by another independent, two bulge bracket banks and a local firm, writes David Rothnie.

  • By David Rothnie
  • 09 Feb 2017

Two senior bankers with knowledge of the process said that JP Morgan and HSBC are in line for roles as the bulge bracket firms. Both banks declined to comment. The formal engagement process is not expected to finish until next week.

Ken Moelis has been dubbed "Ken of ...

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