Saudi Aramco IPO: Russia will not make big investment

Russia's sovereign wealth fund will not be making a significant investment in the Saudi Aramco initial public offering, according to the chief executive of the Russian Direct Investment Fund.

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    Russia has said it will not be making a significant investment in Saudi oil giant Aramco, as the company prepares for its long-awaited launch on the stock market.

    The comments were made by the Russian delegation attending an investment conference in Riyadh.

    Norway also said it was not interested in cashing in at all.

    Saudi Crown Prince Mohammed bin Salman wants Aramco valued at over two trillion dollars, but bankers said between 1.2 and 1.5 trillion is more realistic.

    Al Jazeera's Rory Challands reports.


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