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

Norway's sovereign wealth fund does not plan to invest in Saudi Aramco when the Saudi oil company carries out it's 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 market portfolio, but a major company such as Aramco would not be a natural part of this portfolio, Slyngstad added.

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