Moelis chosen as an adviser for Saudi Aramco IPO: source

Independent investment bank Moelis & Co was chosen as an adviser for the planned initial public offering of Saudi Aramco on Tuesday, a source familiar with the matter told Reuters. Oil and gas company Saudi Aramco had invited banks in January to pitch for an advisory position on what is expected to be the world's biggest initial public offering. Morgan Stanley and HSBC were banks that had received a request for proposals.