#Saudi Aramco markets IPO in Dubai after approaching Kuwait fund - Reuters

Saudi Aramco markets IPO in Dubai after approaching Kuwait fund - Reuters:

Saudi Aramco met investors in Dubai on Sunday to market its initial public offering (IPO), after trying to secure demand from Kuwait’s sovereign wealth fund for the deal, worth up to $25.6 billion, which relies heavily on local and regional buyers.

Top executives of the Saudi state-owned oil giant, including Aramco’s Chief Executive Amin Nasser, met officials of Kuwait’s sovereign wealth fund weeks ago, a source familiar with the matter said, confirming an earlier report on Sunday in the Kuwaiti newspaper Alrai.

Meanwhile, Aramco’s management including its finance head and advisers met with institutional investors at an IPO roadshow in Dubai on Sunday, the second outside Riyadh after the company decided to cancel all roadshows in developed markets.