BUSINESS | Saudi Sovereign Fun PIF Weighs Investing In Ant IPO – Sources

Saudi  Arabia’s sovereign fund PIF is weighing a potential investment in the initial public offering of Chinese financial technology firm Ant Group, which could be the world’s biggest IPO, two sources familiar with the matter said.

Ant, Alibaba’s fintech arm and China’s dominant mobile payments firm, field for a dual listing in Hong Kong and on Shanghai’s Nasdaq-style STAR market last month.

The offering size could reach as much as $30 billion if market condition allow, Reuters reported citing three sources.

That would make it the world’s biggest IPO since oil giant Saudi Aramco raised $29.4 billion last December, which surpassed the record set by China’s Alibaba Group Holding Ltd’s.

The Public Investment Fund (PIF) was approached by Ant through its advisors to consider investing in the deal, the sources said.

‘They are looking at it’, said one of the sources.

If the investment goes ahead, it would be the Saudi fund’s most high profile direct investment in a Chinese company.

PIF declined to comment. Ant spokesperson did not immediately respond to Reuters for comment outside Asia business hours.

NEWS ALERT | Saudi Crown Prince Congratulates Romania’s President On National Day

HRH Prince Mohammed bin Salman Bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, has sent a cable of congratulation to President Klaus Iohannis of Romania on the anniversary of his country’s National Day. In his cable, HRH Crown Prince Mohammed bin Salman wished the President constant good health and happiness … Continue reading NEWS ALERT | Saudi Crown Prince Congratulates Romania’s President On National Day

TRAVEL | Saudi Arabia Is Among 6 Safest Travel Destinations In World, In Light Of Covid-19 Pandemic

The Kingdom of Saudi Arabia has ranked 6th among the world safest travel destinations, in light of the novel Coronavirus (Covid-19) pandemic, and the only one in the Middle East. This come according to an article published on the Wego Travel Blog website, entitled ‘Safe Placed to Travel During Covid -19 Pandemic”. The classification was … Continue reading TRAVEL | Saudi Arabia Is Among 6 Safest Travel Destinations In World, In Light Of Covid-19 Pandemic

NEWS ALERT | Jordan’s King Abdullah And Palestinian Leader Abbas Meet, Hope Biden Revives Peace Process

Jordan’s King Abdullah on Sunday met with Palestinian President Mahmoud Abbas and both leaders et high hopes the U.S. President – elect Joe Biden will revive peace talks over a two-state solutions to the decades – old Arab – Israeli conflict, officials said. In a palace statement after meeting with Abbas in the Red Sea … Continue reading NEWS ALERT | Jordan’s King Abdullah And Palestinian Leader Abbas Meet, Hope Biden Revives Peace Process

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