Saudi Arabia’s oil giant Aramco hires 25 banks to work on flotation

Saudi Arabia’s oil giant Aramco hires 25 banks to work on flotation

Near-record number of banks handling stock market listing reflects size of the IPO Saudi Aramco has hired a near-record 25 banks to work on its upcoming listing on a single stock market.Companies normally hire between one and three banks for a market debut. But the listing of the world's most profitable company has attracted an army of international banks eager to work on one of the biggest IPOs in history. Related: Saudi Aramco scales back preparations for flotation Related: Saudi oil giant Aramco gets go-ahead for $1.5tn stock listing Continue reading...