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Best UK mortgage deals of the week

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Saudi Aramco selects lead underwriters for $100 bln IPO -WSJ

Reuters - UK Focus

Feb 21 (Reuters) - Oil giant Saudi Aramco (IPO-ARMO.SE) has selected JPMorgan Chase & Co (Xetra: 850628 - news) , Morgan Stanley (Xetra: 885836 - news) , and HSBC Holdings Plc (Frankfurt: 923893 - news) 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.

The listing is the centerpiece 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)