China Considers up to $10 Billion Investment in Saudi Aramco IPO: Report
Commitments have not been locked down, and the lineup of investors and the size of the investments will ultimately depend on the Chinese government.
Image for representation. (Reuters)
China's state-owned entities are in talks about investing $5 billion to $10 billion (£7.8 billion) in Saudi oil giant Aramco's planned initial public offering, Bloomberg reported on Wednesday, citing people familiar with the matter.
Beijing-based Silk Road Fund, state-owned oil producer Sinopec Corp and sovereign wealth fund China Investment Corp are among parties that have been in discussions to buy stock in the offering, according to the report.
Commitments have not been locked down, and the lineup of investors and the size of the investments will ultimately depend on the Chinese government, the report added.
Aramco kicked off its IPO on Sunday, announcing its intention to float on its domestic bourse in what could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil.
Aramco, Silk Road Fund, Sinopec, China Investment Corp did not immediately respond to requests for comment.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- By Focusing on Premature Balding, Does Bala Make Light of the Issue of Colourism? Director Answers
- The Viral Posts on Ranu Mondal Demanding Land for Church in Ayodhya are Fake
- Bernardo Silva Hit With One-match Ban for Tweet on Benjamin Mendy
- HiBy R3 Review: A Mainstream Hi-Fi Audio Player that Suits Beginner Audio Hobbyists
- Photoshopped Image of Cricketer Smriti Mandhana with Lipstick and Fairer Skin Causes Outrage