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.

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