Saudi Aramco has picked a slew of banks to work on its planned initial public offering following intense lobbying by some of the world’s top dealmakers, people with knowledge of the matter said.
The chief executive of Saudi Aramco, the state-owned oil firm that is seen as the kingdom's crown jewel, said the company is ready for a local listing on the kingdom's stock exchange and that it will happen "very soon".
Saudi Aramco's chief executive expects a "lengthy" transition from the traditional energy mix to cleaner alternatives.