Banking Law News

Aramco Set to Pay Up to $450 Million in Fees to IPO Advisers (1)

Oct. 15, 2019, 12:19 PMUpdated: Oct. 16, 2019, 2:54 PM

Advisers working on Saudi Aramco’s mammoth share sale may split a fee pool of as much as $450 million, according to people with knowledge of the matter, making it one of the biggest IPO payouts globally.

The oil giant is set to pay $350 million to $450 million to the more than two dozen advisers working on its initial public offering, the people said, asking not to be identified because the information is private. In addition to the investment banks tasked with selling Aramco stock, the pot will also be shared with other professional parties including accountants and advertising agencies,...

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