DUBAI: Saudi Arabia’s sovereign wealth fund delayed the potential sale of its remaining stake in a local utility firm after lacklustre demand from investors, say people familiar with the matter.
The Public Investment Fund (PIF), in recent weeks, held informal talks about raising as much as US$800mil from a share placement of its 17.5% stake in Power and Water Utility Co for Jubail and Yanbu (Marafiq), the people said, asking not to be identified as the information isn’t public.
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