Saudi Arabia marginalized international banks advising on\nAramco’s IPO. JPMorgan Chase & Co. and Morgan Stanley are among the global\ncoordinators who have been sidelined after the oil giant turned to local\nlenders such as Samba Financial Group and National Commercial Bank, as well as\nHSBC Holdings to handle investor orders.<\/p>\n\n\n\n
Bank of America Corp., Citigroup Inc., Credit Suisse Group\nAG and Goldman Sachs Group Ltd., who are also global coordinators, have been\nasked to submit orders through the three banks. International banks will not\nhave access to the IPO without Aramco’s permission.<\/p>\n\n\n\n
More than 20 global banks are investing in Aramco’s IPO\nafter it finally gave the green light after repeated delays. Senior bankers\nhanded orders to Aramco, which will be able to achieve the goal of Crown Prince\nMohammed bin Salman to reach $2 trillion. Saudi officials have now thwarted the\nbiggest names that have failed to deliver.<\/p>\n\n\n\n
Banks will also miss the expected opportunity after foreign\ninvestors ignored the deal and Aramco decided not to market the sale of shares\noutside the Middle East, Bloomberg reported.<\/p>\n\n\n\n
The offer will now mainly depend on local investors after\nmost international fund managers have fallen to the $1.6 trillion target to $71\ntrillion.<\/p>\n\n\n\n
Aramco was expected to pay more than 20 advisers to the\ndeal, including banks, lawyers, marketing and advertising agencies, between 350\nmillion and 450 million dollars, Bloomberg News reported in October. But the\nfinal payments will depend on how well equity banks place them with investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
Saudi Arabia marginalized international banks advising on Aramco’s IPO. JPMorgan Chase & Co. and Morgan Stanley are among the global coordinators who have been sidelined after the oil giant turned to local lenders such as […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[40,4,2],"tags":[93,90,74,66,79,42,50,77,105,20,36,34,145,114,127,48,24,78,131,41,44,95,72,14,22,10,58,57,70,47,86,31,18,80,119,23,45,46,109,144,121,39,81,85,115],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1477"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1477"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1477\/revisions"}],"predecessor-version":[{"id":1479,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1477\/revisions\/1479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1478"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}