Exclusive: Saudi sovereign fund PIF weighs investing in Ant IPO

© Reuters.

By Saeed Azhar

DUBAI (Reuters) – Saudi Arabia’s sovereign fund PIF is weighing a potential investment in the initial public offering of Chinese financial technology firm Ant Group, two sources familiar with the matter said.

The IPO by Ant is set to be the world’s biggest ever, potentially raising up to $30 billion.

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 spokespersons did not immediately respond to Reuters request for comment outside Asia business hours.

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