Kuwait and Abu Dhabi to invest in Saudi Aramco IPO
Aramco has struggled to get an anchor investor for the IPO and has found little interest beyond the Gulf, forcing Saudi Arabia to scale back ambitions for the listing
27 November 2019 - 16:02
Dubai/Abu Dhabi — Saudi Arabia’s wealthy Gulf neighbours plan to invest in the initial public offering (IPO) of Saudi Aramco, sources familiar with the matter said, helping out Riyadh as it strives to raise $25.6bn from a domestic listing of the state oil giant.
Aramco has struggled to secure an anchor investor for the listing and found little interest beyond the Gulf, forcing Riyadh to scale back ambitions for the IPO, although it would still be the world's biggest if it raises more than $25bn...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.