DUBAI/ABU DHABI - The sovereign wealth funds of Abu Dhabi and Kuwait plan to invest in the initial public offering of Saudi Aramco, which is relying mainly on Saudi and Gulf investors to raise up to $25.6 billion, sources familiar with the matter said.
Kuwait Investment Authority also plans to invest in the IPO, two of the sources said. The size of the potential deal was not immediately known. Aramco officials have visited Kuwait and Abu Dhabi, which have strong political ties with Riyadh, to discuss participating in the offering. Two of the sources said ADIA was considering an investment of at least $1 billion, while two other sources gave a range of between $1.5 billion and $2 billion.
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