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Saudi Aramco formally appoints banks to advise on share sale

Reuters - UK Focus

LONDON, March 30 (Reuters) - Saudi Aramco (IPO-ARMO.SE) has formally appointed JPMorgan Chase & Co (Xetra: 850628 - news) , Morgan Stanley (Xetra: 885836 - news) and HSBC as international financial advisers for its initial public offering, expected to be the world's largest equity sale, sources familiar with the matter told Reuters.

The trio join Moelis & Co and Evercore, which have been appointed independent financial advisers, one source said. The company has also appointed Saudi Arabia's NCB Capital and Samba Capital as local advisers, the sources said.

Saudi Aramco said it did not comment on rumour or speculation. (Reporting by Ron Bousso in London,; David French in New York, Davide Barbuscia in Dubai and Reem Shamseddine in Khobar,; Writing by Tom Arnold; Editing by Edmund Blair)