Luberef, a refining unit of Saudi oil giant Aramco has hired major international banks to manage its imminent initial public offering on the Saudi stock market that could raise around $1 billion, Bloomberg reports. Banks, including Citigroup and HSBC Holdings Plc, will lead the share sale, which Luberef announced in a statement this weekend.
SNB Capital, HSBC, Citi, and Morgan Stanley are listed in Luberef’s announcement as joint financial advisors, bookrunners, global coordinators, and underwriters of the IPO process. Luberef…Aramco Refining Unit Plans Billion-Dollar IPO
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