Russia's RDIF unlikely to make huge investment in Aramco IPO -chief

Reuters, 30.10.2019

RIYADH, Oct 30 (Reuters) - Russia's sovereign wealth fund will not make a huge investment in Saudi oil giant Aramco's initial public offering (IPO), the head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev told Reuters on Wednesday.

"Definitely Russia will not be making a huge investment in Aramco because already it is quite exposed to oil," he said in an interview on the sidelines of an investment forum in the Saudi capital Riyadh.

"But lots of pension funds believe Aramco offers a very interesting value proposition ... There's definite interest from a number of Russian pension funds, a number of Russian investment funds and investment banks."

Dmitriev also said Russian investors are exploring more than 10 new projects and opportunities in Saudi Arabia including in energy, tourism, petrochemicals and construction.