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Saudi Aramco hires UBS, Deutsche as bookrunners for its IPO - sources

Saudi Aramco hires UBS, Deutsche as bookrunners for its IPO - sources
FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo -
Ahmed Jadallah(Reuters)
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LONDON/DUBAI (Reuters) – Saudi state oil company Aramco has hired UBS Group <UBSG.S> and Deutsche <DBKGn.DE> as bookrunners for its initial public offering, two sources familiar with the matter said, in a sign that the deal is moving ahead despite a recent attack on Saudi oil facilities.

Aramco has started informing banks about the bookrunners’ roles, one of the sources said. Aramco finalised nine banks for top roles as global coordinators in recent weeks, Reuters had reported.

Aramco was not immediately available to comment. Deutsche Bank declined to comment and UBS did not respond to a Reuters request for comment over the weekend.

(Reporting by Clara Denina, Saeed Azhar and Hadeel Al Sayegh; additional reporting by Sylvia Westall, Abhnav Ramnarayan, Alexander Cornwell, Davide Barbuscia in Dubai and Abhnav Ramnarayan in London; Editing by Giles Elgood)

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