Saudi Aramco meets ADIA, Abu Dhabi funds in IPO pitch: sources - Reuters:
Saudi Aramco’s executives met officials of Abu Dhabi Investment Authority (ADIA) on Monday to discuss a potential investment in the oil giant’s share sale that could raise as much as $25.6 billion, three sources familiar with the talks said.
Aramco has struggled to attract a major cornerstone or anchor investor for its IPO, which could be potentially the world’s biggest. It has also approached Kuwait Investment Authority (KIA) and Singapore’s GIC.
The meeting between Aramco and ADIA, one of the world’s biggest sovereign wealth funds, was separate to an investor roadshow in Abu Dhabi, the second leg of a Gulf marketing effort by Aramco and its advisors.
A similar roadshow was held in Dubai on Sunday.
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