Saudi Aramco taps JPMorgan for for world's biggest IPO

"The markets were volatile this year. There were times when IPOs got launched but didn't get done, and there were also fewer rights offerings," said Achintya Mangla, head of ECM in Europe, Middle East and Africa (EMEA) at JP Morgan <JPM.N>, which topped the league table for global equity offerings and IPOs

HONG KONG: Oil giant Saudi Aramco has asked JPMorgan Chase & Co and Morgan Stanley to assist with its upcoming mammoth IPO and could call on another bank with access to Chinese investors, a source with direct knowledge of the matter said.

The US banks have joined boutique investment bank Moelis & Co in being tapped for coveted roles in what is expected to be the world’s biggest intial public offering worth US$100bil.