NEW YORK: New York-based boutique investment bank Moelis & Co has been chosen as an adviser by Saudi Aramco on its plans for what is expected to be the world’s biggest initial public share offer, sources familiar with the matter told Reuters.
The IPO, which officials expect to value the oil producer at a minimum of US$2 trillion, is the centrepiece of a Saudi Arabian government plan to transform the economy by attracting foreign investment and diversifying away from a reliance on oil.
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