Saudi Aramco selects lead underwriters for $100 bln IPO -WSJ
(Reuters) - Oil giant Saudi Aramco has selected JPMorgan Chase & Co , Morgan Stanley , and HSBC Holdings Plc as lead underwriters on the firm's planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. (http://on.wsj.com/2lkNzAA) Saudi Arabian Oil Co, known as Saudi Aramco, was not immediately available for comment. Saudi authorities are aiming to list up to 5 percent of the world's largest oil producer on both the Saudi stock exchange in Riyadh, the Tadawul, and one or more international markets in an IPO that could raise $100 billion (80.24 billion pounds). The listing is the centrepiece of a Saudi Arabian government plan to transform the kingdom by enticing investment and diversifying the economy away from reliance on oil. (Reporting by Ismail Shakil in Bengaluru; Editing by James Dalgleish)