A change of leadership at oil giant Saudi Aramco and its delayed initial public offering (IPO) is not a concern, the head of Russia's sovereign wealth fund (RDIF) told CNBC.
A change of leadership at oil giant Saudi Aramco and its delayed initial public offering is not a concern, the head of Russia's sovereign wealth fund told CNBC Wednesday.
Saudi Aramco announced this week it was replacing the company's chairman, Khalid al-Falih, with the head of its sovereign wealth fund. " Aramco is one of the greatest companies in the world and the market is waiting for this IPO to happen. And frankly it's going to give a very important boost to the Saudi economy that's transforming itself," Kirill Dmitriev, the chief executive of RDIF, told CNBC's Tanvir Gill.
Dmitriev is attending the Eastern Economic Forum in Vladivostok where Russian President Vladimir Putin is hosting the leaders of Japan, India and Malaysia. Dmitriev said earlier Wednesday that Russia plans to expand its cooperation with Saudi Arabia and would make joint investments with Aramco, Reuters reported.
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