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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Saudi Aramco evaluating foreign exchanges for 2018

Posted on 27 September 2016

Saudi Aramco is looking at a number of foreign exchanges, including London, New York and Hong Kong, for a partial listing of the oil giant in 2018, chief executive Amin Nasser said. The state-oil firm plans to list as much as 5 per cent on Saudi Arabia’s stock exchange, the Tadawul, and at least one foreign exchange as part of efforts to wean the country’s economy away from hydrocarbon sales.
The oil giant is estimated to be worth as much as $2.5 trillion (Dh9.2 trillion) by conservative valuations. Revenue from the partial listing is to be used by a sovereign wealth fund to diversify the economy……………………………………..Full Article: Source


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