Saudi Aramco Excludes UBS, Bank of America From IPO Advice Roles -Reuters

Saudi Aramco hasn't invited UBS or Bank of America Merrill Lynch to vie for advisory roles as it prepares to list publicly because they haven't lent money to it in recent years, Reuters reports, citing unnamed sources.

--Barclays was also excluded, Reuters said, citing separate unnamed sources.

--The three banks may still be awarded lesser advisory roles in the IPO, according to Reuters.

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(END) Dow Jones Newswires

January 16, 2018 06:00 ET (11:00 GMT)