Saudi Aramco IPO Could Raise $106 Billion for Wealth Fund
Inside Saudi Decision to Sell Shares in Aramco Parent
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Saudi Arabia’s sovereign wealth fund could receive $106 billion in cash from the sale to the public of a 5 percent stake in oil giant Aramco’s parent company, according to the Sovereign Wealth Fund Institute.
“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 cash pot of the Public Investment Fund while enlarging domestic markets.”