Saudi Arabia's government institutions spent nearly $2.3 billion on Saudi Aramco's record-breaking initial public offering, Bloomberg reported Tuesday.
That reliance on local funding sources contrasts with Aramco's expressed desire to get more economically diverse.
The government sold two-thirds of shares to institutional investors, and government institutions bought up 13.2% of those shares.
Saudi companies bought the largest portion of the tranche, taking 37.5% of shares offered, according to...
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