Saudi Aramco Names First Japanese Bookrunner For Giant IPO

Saudi Aramco has picked SMBC Nikko Securities to be a bookrunner of its much-hyped much-delayed initial public offering (IPO)—the first Japanese financial company to land a role in what would be the world’s largest listing in history, Reuters reported on Thursday, quoting three sources. Aramco has already given leading roles in its share listing to nine of the world’s largest banks. The winners in the world’s largest share sale who will act as joint global coordinators are JP Morgan, Morgan Stanley, Bank of America Merrill…