Kuwait Investment Authority (KIA), the country's sovereign wealth fund agreed to more than double its investment in Agricultural Bank of China's initial public offering to $1.9 billion, a local newspaper said.
Qatar Investment Authority (QIA) also raised its stake to $6 billion from $2.8 billion, the paper said on Monday without citing sources, signaling Middle East funds took a big slice of the record IPO.
'The Kuwait Investment Authority has decided to increase its stake in the Agricultural Bank of China from $800 million to $1.9 billion...(and) Qatar Investment Authority (QIA) increased its stake from $2.8 billion to $6 billion.' Kuwaiti daily al-Jarida said."
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