Kuwait’s sovereign fund invests $800 ml in Visa IPO April 6, 2008
Posted by mylastresort in analysis, rumors, sovereign funds.Tags: Abu Dhabi, analysis, Citigroup, Dubai, Funds, Industrial and Commercial Bank of China, Initial Public Offering, investment, IPO, KIA, Kuwait Investment Authority, Kuwaiti, Merrill Lynch, uae, Visa
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Rumors have been circulating around in the markets for a while regarding the Kuwait and Abu Dhabi sovereign fund’s were investing in the Visa IPO. The Kuwait Investment Authority has just announced that it as bought almost $800 million of shares in the initial public offering (IPO) for Visa. The KIA has purchased more than 18 million shares at $44 each. Shares of Visa were last trading at around $65.
Recent KIA investments:
- Merrill Lynch & Co. (part of $5 billion aid due to subprime)
- Citigroup Inc. (part of $5 billion aid due to subprime)
- Industrial and Commercial Bank of China ($720 million invested, biggest investor)
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