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Saudi Aramco hires UBS, Deutsche as bookrunners for its IPO: Report

Saudi state oil company Aramco has hired UBS Group and Deutsche as bookrunners for its initial public offering, two sources familiar with the matter said, in a sign that the deal is moving ahead despite a recent attack on Saudi oil facilities.
Aramco has started informing banks about the bookrunners’ roles, one of the sources said.
Aramco finalized nine banks for top roles as global coordinators in recent weeks, Reuters has reported. More banks are expected to be named in junior roles, the sources said.
According to a Bloomberg report, Aramco has also added banks including Barclays Plc, BNP Paribas SA, Credit Agricole SA, Gulf International Bank BSC and Societe Generale SA. Bloomberg cited sources who asked not to be identified because the information is private. Aramco is planning to select about 15 bookrunners in total, including two Chinese firms, one of the sources said.
Doubts had emerged about the timeline of the potentially $20 billion domestic leg of the IPO among investors after last Saturday’s attacks on two sites that usually process and clean up about 5.7 million barrels per day.
Aramco has that by the end of September it will resume full crude output at Abqaiq and Khurais, the two oil facilities damaged by attacks last weekend that US officials have blamed on Iran.
Aramco’s planned meeting with analysts, ahead of the expected IPO in late November, is also scheduled for early next week, two other sources said.
Aramco was not immediately available to comment.
Deutsche Bank declined to comment and UBS did not respond to a Reuters request for comment over the weekend.
Aramco’s Riyadh listing is the first step towards an eventual sale of up to five percent, sources have told Reuters, with another one percent expected to be sold domestically next year, followed by an international listing.
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BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
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