Global investment bankers launched the underwriting process for the initial public offering of Saudi oil giant Aramco in Dubai on Thursday, a sign financiers who shunned the kingdom in the immediate aftermath of the murder of journalist Jamal Khashoggi are turning the page.
Government-owned Saudi Arabian Oil Co. has so far chosen nine banks to underwrite its listing: JPMorgan, Morgan Stanley , Goldman Sachs, Bank of America Merrill Lynch, Citigroup, HSBC, Credit Suisse and two domestic investment banks, according to people familiar with the details.