Aramco: Abu Dhabi expected to invest $1.5 billion in IPO

Last Tuesday (26), sources told Bloomberg that Abu Dhabi plans to invest up to $1.5 billion in the initial public offering (IPO) of Saudi Aramco. Aramco representatives must meet with authorities of some of abu dhabi’s top funds and companies this week to evaluate possible investment promises.

Aramco, which was betting on attracting large investors, is still did not announce any firm commitments and it would be a good strategy to bring a big investor out of the kingdom to Saudi Arabia after the plans promoting the IPO globally have been abandoned.

According to Saudi TV station Al-Arabiya, Crown Prince Mohammed bin Salman will make an official visit to Abu Dhabi. According to the sources, the Abu Dhabi government has not made a final decision on which state-owned states will participate in the offer and in addition, the value of the investment may also still change. On the initiative, Aramco declined to comment.

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