The Russian Direct Investment Fund (RDIF) says that it will set up a “significant” pool of investors for the planned $100bn (€80.1bn) initial public offering (IPO) by Saudi Arabia’s state-owned oil producer Aramco.
Kirill Dmitriev, the sovereign wealth fund’s head, has already said that Russian pension funds are considering participation in the Saudi Aramco IPO, which is potentially the world’s biggest, valuing the group at up to €2 trillion and raising more than €100bn. He also expects widespread interest from Russia’s financial sector.
“We see a great interest from Russian banks, from Russian investment banks and other Russian investors,” Dmitriev said on the sidelines of a conference in the Black Sea resort of Sochi. “That’s why we believe that we will be able to set up a significant consortium for these investments.”
“Not only this, but we have a Russia-China investment fund, and through that fund we see a major interest in the Aramco IPO from a number of leading Chinese institutions,” he told reporters.
“We see significant interest to invest in the Aramco IPO from Russia, from China, and we believe that this is very good for, once again, thinking jointly about oil.”
Dmitriev added that the fund and its partners from the Middle East, Asia and Japan have bought a “significant” amount of preferred shares in Russian state oil pipeline monopoly Transneft.
Russia and Saudi Arabia, the world’s two largest oil-producing nations, have abandoned their long-time rivalry and formed an alliance to prop up crude prices in response to increasing output from US shale drillers.