BLOOMBERG/CHRISTOPHER PIKE
The Group Chief Executive of Abu Dhabi’s Mubadala Investment Company said that the state investor is weighing debt issuance plans amid attractive market conditions and could invest in oil giant Saudi Aramco's planned initial public offering (IPO).
Khaldoon Khalifa al Mubarak, the Group Chief Executive of Mubadala added the sovereign wealth fund exited its investment in USchipmaker Advanced Micro Devices in September 2019 after 12 years, having made $4.25 billion on its initial investment of $770 million.
Saudi Aramco postponed plans to float a one-two per cent stake on Tadawul before a possible international listing, launching an initiative that is central to Crown Prince Mohammed bin Salman's economic diversification drive.
Mubarak also said that Mubadala, which has assets under management of $229 billion, is considering participating in Japanese group SoftBank's Vision Fund 2, but the company has not made a final decision.
The sovereign wealth fund is also considering to list Emirates Global Aluminium (EGA) but Mubarak cautioned that this is not the best time for an exit from EGA given a correction in aluminium prices, reported Reuters.
MOST READ
INVESTMENT
India seizes Yes Bank, limits withdrawalsINVESTMENT
ING Groep plans to sell its Turkish unitINVESTMENT
SABB seeks to boost corporate lendingINVESTMENT
UBS launches new private client programINVESTMENT
Egypt plans to resume IPOs of parastatalsINVESTMENT
HSBC considering exiting from TurkeyINVESTMENT
Abu Dhabi’s Group 42 acquires BayanatINVESTMENT
Amanat considers stake in VPS HealthcareINVESTMENT
KIZAD, ECI partner to support UAE businessesINVESTMENT
Fiat Chrysler, PSA explore a potential mergerINVESTMENT
UBS investment bank job cuts reach EuropeINVESTMENT
Saudi Aramco plans to complete IPO this yearINVESTMENT
Emirates NBD’s launch of E20. credit positive
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
