LONDON/DUBAI — Saudi Aramco has invited banks, including Citi and Goldman Sachs, for meetings in the coming weeks to pitch for roles in its stock market listing, according to three banking sources familiar with the matter.

The meetings are an indication that preparations for a 2018 initial public offering, which could be the biggest IPO in history, are progressing despite market speculation it could be delayed or even shelved.

Executives from Citi, Goldman and Deutsche Bank , which are all bidding to be global coordinators for the share sale, are among the teams invited to present their pitches in person, said the three sources, including two bankers who expect to attend the meetings.

The talks will be held at the end of January or beginning of February in the Eastern Province city of Dhahran, where the state oil company is headquartered, they added.

Two of the sources said the talks would involve members of the banks' equity capital markets teams, executives who would be directly involved in an IPO, rather than top management. — Reuters