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By Lauren Hirsch
Feb 7 (Reuters) - Independent investment bank Moelis & Co was chosen as an adviser for the planned initial publicoffering of Saudi Aramco on Tuesday, a source familiar with thematter told Reuters.
Oil and gas company Saudi Aramco had invited banks inJanuary to pitch for an advisory position on what is expected tobe the world's biggest initial public offering.
Morgan Stanley and HSBC were banks that hadreceived a request for proposals. The invitation was to evaluateAramco's business and help it with measures surrounding theshare sale.
This is a big win for boutique bank Moelis, which itselfwent public less than three years ago, and its founder KenMoelis.
A Moelis spokesperson declined to comment and Saudi Aramcowas not immediately available to comment.
For Moelis, the Saudi Aramco mandate dwarfs previous IPOadvisory roles, which include luggage maker Samsonite on its$1.3 billion IPO in 2011 and plastic pipe company Polypipe GroupPlc on its £320 million IPO in 2014.
The listing is the centerpiece of a Saudi Arabian governmentplan to transform the kingdom by enticing investment anddiversifying the economy away from a reliance on oil. Saudi officials expect the IPO to value Aramco at a minimumof $2 trillion. (http://reut.rs/2k0avBn)
(Reporting by Lauren Hirsch in New York and Bhanu Pratap inBengaluru; Editing by Bernard Orr)
