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Sovereign Wealth Funds Briefing - Categorized | Market, People

Aramco Names Wealth Fund Secretary General to Board in IPO Push

Posted on 11 August 2016

Saudi Arabian Oil Co. named to its board the secretary general of the kingdom’s sovereign wealth fund, which will become the majority owner of the state energy producer after Aramco’s planned share sale, a move also expected to turn it into the largest such fund in the world.
Yasir Al-Rumayyan, the secretary general of the Public Investments Fund and an adviser to the Saudi Royal Court, was appointed a member of the board of Saudi Aramco, according to the company’s website. The Saudi government plans to sell less than 5 percent of Aramco shares to the public by the end of 2018, a move that will make it the largest listed company in the world………………………………………..Full Article: Source


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