#Saudi Aramco Said to Approach Asian State Oil Producers on IPO - Bloomberg

Saudi Aramco Said to Approach Asian State Oil Producers on IPO - Bloomberg:

Saudi Aramco has approached Asian state oil producers including Malaysia’s Petroliam Nasional Bhd. and China’s Sinopec Group about potential cornerstone investments in its initial public offering, people with knowledge of the matter said. 


The Gulf energy giant and its advisers have recently been holding talks with potential investors including China’s sovereign wealth fund and China National Petroleum Corp., according to the people, who asked not to be identified because the information is private. They have also reached out to state-owned entities from the United Arab Emirates and Kuwait, including Abu Dhabi sovereign fund Mubadala Investment Co., as well as Canadian pension funds, the people said. 


Deliberations are at a preliminary stage, and Aramco hasn’t yet received any firm commitments, the people said. Aramco’s advisers are arranging meetings with some potential cornerstone investors this week and next week, according to the people. The funds could decide against buying into the offering, they said.