Equities

Reuters exclusively reports Saudi Aramco lures sovereign funds to hit $2 trillion IPO valuation

Reuters exclusively reports Saudi Aramco lures sovereign funds to hit $2 trillion IPO valuation

Reuters exclusively reported that state-owned Saudi Aramco has approached Abu Dhabi Investment Authority, Singapore’s GIC and other sovereign wealth funds to invest in the domestic leg of the oil giant’s listing as it seeks to achieve a $2 trillion valuation. After initial conversations in recent months between Saudi Arabia and governments in the Gulf and Asia, approaches to their sovereign wealth funds have started via the banks appointed to handle Aramco’s initial public offering.