Abu Dhabi sovereign fund weighs investment of at least $1 bln in Aramco IPO -sources

DUBAI/ABU DHABI, Nov 27 (Reuters) – Abu Dhabi Investment Authority (ADIA) is weighing an investment of at least $1 billion in the initial public offering (IPO) of Saudi Aramco, which is relying mainly on Saudi Arabian and Gulf investors to raise up to $25.6 billion, five sources familiar with the matter said. A final decision on the amount has yet to be taken and would need approval from ADIA’s board of directors, one of the sources said. ADIA, estimated to have assets of nearly $700 billion, is chaired by the president of the United Arab Emirates, Sheikh Khalifa bin Zayed al-Nahyan, while its deputy chairman is Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan.