FILE PHOTO: The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File PhotoDUBAI/ABU DHABI (Reuters) - The sovereign wealth funds of Abu Dhabi and Kuwait plan to invest in the initial public offering (IPO) 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.Abu Dhabi Investment Authority (ADIA) is weighing an investment of at least $1 billion, five sources familiar with the matter told Reuters. A final decision on the amount requires board approval, one of the sources said.Kuwait Investment Authority (KIA) also plans to invest in the IPO, two of the sources said. The size of the potential deal was not immediately known.An ADIA spokesman and Aramco declined to comment. The institutional offering closes on Dec 4.

Source: Egypt Today November 27, 2019 09:45 UTC