Saudi Aramco said to have named Brunswick as media advisor on IPO

State-owned Saudi Aramco has appointed advisory firm Brunswick to join FTI Consulting as media and investor relations advisor its initial public offering (IPO), Reuters reported citing sources familiar with the matter.

Brunswick will run the external and media communications for the IPO, while U.S.-based FTI will focus on managing investor relations, according to two sources.

Saudi Arabia's national oil giant, plans in 2018 to list up to 5 percent of the company in a share sale that could raise $100 billion.

Aramco will list its shares on the Kingdom's stock exchange (Tadawul) as well as one or more foreign stock exchanges, Deputy Crown Prince Mohammed bin Salman said earlier this week.