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Saudi Aramco bulks up Asia investments to boost appeal for IPO

Samba Capital, the investment arm of Saudi Arabia’s third-largest bank by assets, is one of the more active local investment banks.
Samba Financial Group 1090.SE, the parent of Samba Capital, did not immediately respond to a request for comment.
REUTERS/Hamad I Mohammed/File PhotoDUBAI Oil giant Saudi Aramco IPO-ARMO.SE has selected Samba Capital as one of two banks to work as an adviser on its planned share sale in Riyadh, banking sources told Reuters on Thursday.
Saudi Aramco said it did not comment on rumor or speculation.
HSBC (HSBA.L) is also a leading contender for a role, sources have said.
Saudi Aramco
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Saudi Aramco selects FTI as global media advisor for IPO

Also Read: Saudi Aramco bulks up Asia investments to boost appeal for IPO Malaysia: Saudi Aramco to buy 50% in selected RAPID project assets, invest $7bReuters
Saudi Aramco has chosen U.S.-based FTI Consulting as global media adviser for what is expected to be the world’s largest initial public share offer, industry sources said.
“Aramco has avoided frequent contact with the international media and has preferred in the past to let the ministry of petroleum handle such relationships,” said Sadad al-Husseini, a former senior executive at Saudi Aramco.
FTI “will support Aramco’s communications team ahead of the sale to handle the storm of the IPO”, said one of the sources.
In recent months the Saudi national oil giant has been appointing advisers to help arrange the offer.


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Saudi Aramco Plans $2 Billion Debut Bond Ahead of IPO

Saudi Aramco

A spokesperson for Saudi Aramco declined to comment.
The kingdom is working on the benchmark-sized issue alongside a plan to sell dollar Islamic bonds in the international market, they said.
Saudi Aramco, as the company is known, will sell riyal-denominated Islamic bonds, or sukuk, as early as the second quarter, the people said, asking not to be identified as the discussions are private.
The Saudi government’s debut offering in October raised $17.5 billion in the biggest-ever emerging-market sale.
Saudi Aramco is preparing to sell bonds ahead of an IPO in 2018, the latest in a string of debt sales that raised almost $80 billion for countries in the Middle East and North Africa, the most since Bloomberg started compiling data in 1999.

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