DUBAI: Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources with direct knowledge of the matter said.
The formal IPO process begins after Saudi Arabia's Crown Prince Mohammed bin Salman had said in June the government remained fully committed to the IPO, expecting it to take place between 2020 and early 2021.international investment banks which wanted to be involved, Reuters had reported citing sources.
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