The Kuwaiti government has indicated that it will invest up\nto $1 billion in the initial public offer for Saudi Aramco, as the Kingdom\nrequests regional allies to boost sales of its record selling shares, according\nto people familiar with the matter.<\/p>\n\n\n\n
It appears that the Kuwait Investment Authority was\nreluctant to allocate large funds for public subscription, but the government\ntold it that this step was in the country’s strategic interest. Kuwait sent its\ndecision to the Aramco administration on Monday.<\/p>\n\n\n\n
Kuwait\u2019s decision comes after Abu Dhabi, the oil-rich member\nin the United Arab Emirates, announced that it had decided to invest $1.5\nbillion in Aramco, according to informed government sources.<\/p>\n\n\n\n
Yet n another major investor from the Gulf region will be a\nrelief to the Kingdom of Saudi Arabia after abandoning the IPO globally plans.\nAramco had high hopes to benefit from sovereign investors, including large\npurchase packages from China, but has not yet announced any firm commitments.<\/p>\n\n\n\n
Saudi Arabia is looking to raise more than $25 billion to\nsell a 1.5 percent stake in the world’s largest oil producer. The institutional\npart of the subscription now has offers totaling 144 billion riyals ($38\nbillion), which will cover this portion of the proposed sale 2.3 times.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Kuwaiti government has indicated that it will invest up to $1 billion in the initial public offer for Saudi Aramco, as the Kingdom requests regional allies to boost sales of its record selling shares, […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[63,3,4],"tags":[93,90,74,66,79,42,36,34,145,114,127,48,24,131,41,44,72,22,10,58,57,70,47,86,31,18,80,23,45,46,109,85,115],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1496"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1496"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1496\/revisions"}],"predecessor-version":[{"id":1498,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1496\/revisions\/1498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1497"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}