FINANCIAL NEWS

Saudi’s Aramco raises USD 106bn for wealth fund

09 Apr 2016

(MENAFN) Saudi Arabia’s sovereign wealth fund could get USD 106bn from the sale of the public of a 5 percent share in oil giant Aramco’s Co.

Accordingly, suitable investors in Aramco could be long-term institutional investors like the Canadian pensions.

Moreover, if Aramco deal achieved, it could be a blueprint for other Saudi state-owned entities to follow.

On the other hand, the kingdom’s Public Investment, which controls more than USD 2tr of assets.

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