Banks scramble to re-pitch for Aramco IPO roles: sources

LONDON/DUBAI - Investment banks are scrambling to re-pitch to advise Saudi Aramco on a possible initial public offering, sources familiar with the matter said, with Saudi Arabia’s energy minister confirming plans for the listing to proceed in 2020 or 2021.

“There is some shifting in terms of what roles the banks might have if IPO talks go ahead.” JPMorgan, Morgan Stanley and HSBC were picked to play a leading role in the world’s biggest ever IPO when the plan was first announced in 2016. Boutique investment banks Moelis & Co and Evercore were also hired by Aramco as independent advisers. But plans for a domestic and international listing were later postponed.

“Now that all of these issues have been cleared, we are ready to start planning for the IPO,” he said.

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When you know the rules, cheaters no longer get away with cheating because legal referees can be called in when they fail to penalize cheating. What is true for sports, is true for US Government. The corporate monarchy of USA is ending. 99% outranks the 1% greedy: 4th Branch.

Saudi Aramco is the government-controlled corporation of Saudi Arabia and part of the Russian OPEC oil gold alliance of world dictators to control the world's wealth with Yuan-Russia OPEC oil-gold. The Ponzi scam is known in the USA w/ impeachment pending. Scrambling..lol.

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