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FinancialNews
28-11-19
Funds in UAE, Kuwait to invest in Aramco's IPO
(MENAFN) Ruler wealth funds in Abu Dhabi and Kuwait are allegedly planning to invest in the initial public offering (IPO) of the Saudi Arabian Oil Company (Saudi Aramco).
The Abu Dhabi Investment Authority (ADIA) is considering an investment of at least USD1 billion, and according to other sources estimating the investment at USD1.5-2 billion, Reuters reported.
According to the news agency, the Kuwait Investment Authority (KIA) is reportedly also planning an investment in the IPO.
The IPO's lead manager, Samba Capital recently revealed that the number of subscribers in the offering amounted to 2.63 million, with a retail subscription value of USD 5.8billion and a total number of 680.25 million subscribed shares, by the end of 25 November.
MENAFN2811201900450000ID1099339347
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