Saudi Arabia picks JPMorgan, Banker Klein for Aramco IPO

Klein has been selected to provide advice to the Saudi government for the anticipated intial public offering for Saudi Aramco, whilst JPMorgan may serve as the underwriter, said Bloomberg in a report. No final decisions have been made as of yet.

A listing of the state-owned oil company could turn it into the world’s largest publicly traded company with an estimated valuation in the trillions of dollars. Prince Mohammed bin Salman said to Bloomberg earlier this month that Aramco could list on the stock exchange as early as 2017 and no later than 2018.

“The mother company will be offered to the public as well as a number of its subsidiaries,” the Prince told Bloomberg.