Bankers gear up for Saudi Aramco IPO
Saudi Arabian Oil Company is preparing to sell shares on the Saudi stock exchange later in 2019
Dubai — Dozens of bankers from Citigroup to JPMorgan Chase descended on the heart of Dubai’s financial district on Thursday to start work on the mammoth initial public offering (IPO) of Saudi Aramco.
Executives from Morgan Stanley and local investment bank Samba Financial Group also turned up for the kickoff meeting at the opulent Ritz Carlton hotel, just one day after news of their appointment came out. Every now and then, some would exit the closely guarded meeting room — marked by an electronic sign bearing Moelis & Co’s name — passing guests on their way to the pool overlooking the office towers of Dubai International Financial Centre...
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