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Report: Saudi stock exchange poised to name IPO managers

The Saudi Arabian stock exchange, or Tadawul, is expected tounveil as early as the week ending May 6 the final list of banks that will helpmanage its potential IPO in 2018, Bloomberg News said in a report updated May5.

A shortlist of banks includes Goldman Sachs Group, HSBC Holdings,JPMorgan Chase, Morgan Stanley, Gulf International Bank, National CommercialBank, Samba Financial Group and Saudi Fransi Capital, Bloomberg said, citing"people familiar with the matter."

The transaction is expected to raise more than $500 millionfor a 30% stake in Tadawul, two of the people said.