Aramco IPO could raise US$106b for Saudi wealth fund
Dubai
SAUDI Arabia's sovereign wealth fund could receive US$106 billion in cash from the sale to the public of a 5 per cent stake in oil giant Aramco's parent company, according to the Sovereign Wealth Fund Institute (SWFI).
"Suitable investors in Aramco could be long-term institutional investors such as the Canadian pensions, or even Asian sovereign wealth funds," the Las Vegas-based consultant and researcher said in a report released on Thursday. "If an Aramco deal goes through, it could be a blueprint for other Saudi state-owned entities to follow, thus potentially increasing the ca…
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