Riyadh-Mubasher: The list of banks under consideration by the Saudi bourse to help manage its initial public offering has been winnowed down to eight names, including Goldman Sachs Group and HSBC Holdings, Bloomberg reported.
The Saudi Stock Exchange is also considering JPMorgan Chase & Co., Morgan Stanley, Gulf International Bank BSC, National Commercial Bank, Samba Financial Group and Saudi Fransi Capital for the Tadawul IPO.
A decision could come as soon as this week, sources told Bloomberg.
The IPO could raise more than $500 million for a 30% stake in the company.
