Saudi Arabia’s PIF could see big profit on Uber stake, Future Investment Initiative forum hears:
The Public Investment Fund (PIF), the Saudi Arabian sovereign wealth fund, is potentially looking at a windfall profit on its investment in Uber Technologies, the American ride-hailing company, it emerged at the Future Investment Initiative in Riyadh.
Lubna Olayan, head of the Olayan Group conglomerate, highlighted a potential doubling in the value of PIF’s stake in Uber if the San Francisco firm goes ahead with an initial public offering next year.
Speaking on a panel entitled “Can global investment inspire a collective vision of the future,” she remarked that PIF first invested $3.5 billion in Uber in 2016 when it was valued at approximately $60 billion.
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