Saudi Aramco IPO will boost local economy, says RDIF chief

The global market is waiting for Saudi Aramco’s IPO to happen, which is set to give a very important boost to the local economy, CNBC reported, citing the head of Russia's sovereign wealth fund (RDIF), Kirill Dmitriev.

“Saudi Aramco is a great investment opportunity, that will generate a lot of interest from Asian investors and all over the world,” Dmitriev said.

Saudi Arabia has appointed Yasir Bin Othman Al-Rumayyan as the new chairman of Saudi Aramco, replacing energy minister Khalid Al Falih, in a move aimed to prepare for the IPO.