Saudi Aramco picks US bank Moelis as adviser for biggest ever IPO

Oil giant Saudi Aramco has appointed global investment bank Moelis & Co. to work on its stock market flotation, which is expected to be the biggest listing in history. According to the Financial Times, the New York-based bank saw off a number of rivals to secure the appointment, given a host of banks had sought to work on the company's initial public offering (IPO), which is expected to raise $100bn (£80bn). The share sale, which Saudi Arabian government's officials hope will value the