Uber IPO Smacks Saudi Wealth Fund with $200 Million Loss

2019-5-12 14:24

By CCN: The Saudi Arabian Public Investment Fund (PIF) was one of the first believers in Uber, ponying up billions of dollars to invest in it back in 2018. Now that the ride-sharing company has finally gone public, the fund stands to be one of the biggest losers.

The fund bought in at $48. 77 a share, far higher than Uber’s debut price of $42. At the time of writing Friday, Uber shares were fluctuating between about $42 and $45. Uber IPO Leaves Mighty Wake The Saudi Arabian fund, which is the country’s main investment fund, sank $3. 5 billion into Uber

The post Uber IPO Smacks Saudi Wealth Fund with $200 Million Loss appeared first on CCN

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