Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC Monday.
Saudi Aramco asked several banks to bid for roles in its initial public offering, people familiar with the matter told CNBC Monday.The debt offering gave the Saudi officials confidence the IPO could happen as soon as 2020.
An employee walks past crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018.Saudi Aramco asked several banks to bid for roles in its possible initial public offering. The the world's biggest oil company requested major banks to propose roles in the potential IPO, people familiar with the matter told CNBC Monday.An initial public offering of the state-controlled oil company has been a long-time goal of Saudi Arabia's Crown Prince Mohammed bin Salman, who values the company around $2 trillion. The state-owned oil company would be the world's biggest IPO.
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