October 30, 2019 / 9:25 AM / 20 days ago

Norway's wealth fund says it will not invest in Saudi Aramco IPO

OSLO, Oct 30 (Reuters) - Norway’s sovereign wealth fund does not plan to invest in Saudi Aramco when the Saudi oil company carries out its long-awaited initial public offering (IPO), the fund’s chief executive said on Wednesday.

“Saudi Arabia is not part of our reference index,” Yngve Slyngstad told a news conference.

The Norwegian fund has some smaller investments in Saudi companies through an emerging markets portfolio, but a major company such as Aramco would not be a natural part of this portfolio, Slyngstad added. (Reporting by Nerijus Adomaitis Writing by Terje Solsvik Editing by David Goodman )

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