Daily News: March 20, 2014

Bloomberg: JPMorgan, HSBC Said to Plan Bid for $4B Saudi IPO

Bloomberg reported that JPMorgan Chase and HSBC Holdings Plc (HSBA) are among banks planning to compete for a role in the largest Saudi Arabian share sale in at least 12 years, according to five people with knowledge of the matter.

According to Bloomberg , the banks will vie with local lenders to be appointed as financial adviser on the sale of a 15% stake in Jeddah-based National Commercial Bank, the people said, asking not to be named as the information isn’t public.

To read the entire Bloomberg article, click here