China reportedly considering investing up to $10bn in Aramco IPO
Wealth funds as well as the state-owned oil producer Sinopec are reportedly in talks to participate in the Saudi Aramco IPO
China's government-owned organisations are reportedly eyeing a combined investment of between $5bn and $10bn in Saudi Aramco's initial public offering, according to a report by Bloomberg.
The media outlet cited anonymous sources, which said that Beijing's Silk Road Fund is in talk to buy stakes of Aramco, as well as other funds and state-owned organisations. Oil producer Sinopec and China Investment Corp were also in discussions about the IPO, Bloomberg reported, though no commitments have been finalised.
For China, a major consumer (and importer) of hydrocarbons, investing in Saudi Aramco would add more balance to its portfolio, allowing it a new revenue stream when oil prices are high.