Riyadh – Mubasher: Chinese state-owned entities plan to inject a combined $5 billion to $10 billion in Saudi Aramco’s initial public offering (IPO), Bloomberg reported recently.
Silk Road Fund, the state-owned investment fund of the Chinese government, is among parties that have been in talks to purchase stock in the long-awaited offering.
Sinopec Group and sovereign wealth fund China Investment Corp. have also held negotiations to invest in Aramco’s IPO.
Moreover, some other Chinese funds or state-owned entities are expected to join the offering.
Such an investment would strengthen ties with Saudi Arabia, as well as provide China a way to profit from rising oil prices.
Earlier this week, The Capital Market Authority (CMA) has issued its resolution approving the Saudi Arabian Oil Company, Saudi Aramco, application for the registration and offering of part of its shares.
