Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    64,157.14
    +741.58 (+1.17%)
     

  • CMC Crypto 200

    1,384.75
    +72.13 (+5.50%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • Dow

    37,986.40
    +211.02 (+0.56%)
     

  • Nasdaq

    15,282.01
    -319.49 (-2.05%)
     

  • Gold

    2,402.80
    +4.80 (+0.20%)
     

  • Crude Oil

    83.26
    +0.53 (+0.64%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Saudi Aramco selects lead underwriters for $100 bln IPO -WSJ

Reuters
A Saudi Aramco employee sits in the area of its stand at the Middle East Petrotech 2016, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain, September 27, 2016. REUTERS/Hamad I Mohammed

(Reuters) - Oil giant Saudi Aramco (IPO-ARMO.SE) has selected JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N), and HSBC Holdings Plc (HSBA.L) as lead underwriters on the firm's planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. (http://on.wsj.com/2lkNzAA)

Saudi Arabian Oil Co, known as Saudi Aramco, was not immediately available for comment.

Saudi authorities are aiming to list up to 5 percent of the world's largest oil producer on both the Saudi stock exchange in Riyadh, the Tadawul, and one or more international markets in an IPO that could raise $100 billion (80.24 billion pounds).

The listing is the centrepiece of a Saudi Arabian government plan to transform the kingdom by enticing investment and diversifying the economy away from reliance on oil.

(Reporting by Ismail Shakil in Bengaluru; Editing by James Dalgleish)