Louisiana Light • 5 days | 86.99 | -0.61 | -0.70% | |||
Bonny Light • 9 days | 86.00 | -0.62 | -0.72% | |||
Opec Basket • 4 days | 87.06 | -0.37 | -0.42% | |||
Mars US • 246 days | 76.40 | -1.43 | -1.84% | |||
Gasoline • 1 day | 2.559 | -0.042 | -1.62% |
Bonny Light • 9 days | 86.00 | -0.62 | -0.72% | |||
Girassol • 9 days | 87.27 | -0.38 | -0.43% | |||
Opec Basket • 4 days | 87.06 | -0.37 | -0.42% |
Peace Sour • 2 days | 76.68 | +0.87 | +1.15% | |||
Light Sour Blend • 2 days | 79.13 | +1.07 | +1.37% | |||
Syncrude Sweet Premium • 2 days | 83.73 | +1.32 | +1.60% | |||
Central Alberta • 2 days | 77.13 | +0.82 | +1.07% |
Eagle Ford • 4 days | 80.36 | +1.07 | +1.35% | |||
Oklahoma Sweet • 4 days | 80.50 | +1.25 | +1.58% | |||
Kansas Common • 5 days | 73.00 | -0.75 | -1.02% | |||
Buena Vista • 4 days | 90.42 | +1.07 | +1.20% |
Hedge funds are quietly purchasing…
Germany's grid is getting greener…
City A.M
CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and…
U.S. investment banking giants Goldman Sachs and Citi are lined up to lead the initial public offering (IPO) of part of Saudi Aramco, according to reports.
The Saudi state-owned oil producer plans to list this year in what is expected to be one of the largest share offerings ever, if Aramco's target valuation of $2 trillion (£1.5 trillion) is achieved.
The two banks will be joined on the mega-deal by JP Morgan, HSBC and Morgan Stanley in global coordinator roles, with the mandates potentially finalised at some point this week, according to Bloomberg.
The appointment of advisors would mark an important step before the float, after Aramco officials were forced to reiterate their plans for a 2018 listing at the end of last year.
A decision also remains to be made on the listing venue for the IPO, with London and New York thought to be among the leading contenders for the giant share offering of around five per cent of the oil producer.
The London Stock Exchange's efforts to attract the listing have been strongly backed by the Prime Minister and the chancellor, while the Financial Conduct Authority (FCA) is currently also consulting on changes to listing rules which would make it easier for Aramco to choose the UK.
An end-of-year deadline for the policy statement on the listing proposal from the FCA has passed without any update from the City watchdog.
The banks declined to comment. Saudi Aramco was contacted for comment.
ADVERTISEMENT
By CityAM
More Top Reads From Oilprice.com:
CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and…
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com