Saudi chemical giant Sabic prepares to take its gas business public.
SABIC considers IPO possibility for its gas business
According to sources, SABIC is considering conducting an initial public offering of its gas business in Saudi Arabia. This move is under consideration as part of a corporate operational review.
In this process, SABIC is holding preliminary discussions with consultants, including Lazard Inc., HSBC Holdings Plc, JPMorgan Chase & Co., and Morgan Stanley, regarding a potential IPO later this year. This was reported by sources who remained anonymous due to confidentiality.
SABIC has a significant influence in the gas business due to its stake in National Industrial Gases Co. In 2024, this company generated 1.6 billion riyals ($427 million) in revenue. However, a final decision on the IPO has not yet been made.
Among other Saudi companies that went public this year were Flynas Co., Specialized Medical Co., and United Carton Industries Co. This became known amid deteriorating conditions in the chemical market, which led to a sharp decline in demand, rising costs, and decreasing profits.
Read also
- Public Transport System in Poland - How It Works and How Much It Costs
- Ukrainians will receive up to 100,000 UAH - what needs to be done
- The Most Expensive Metals in the World — Where They are Mined and How Much They Cost
- Vodafone's Budget Tariffs - What Can You Connect Cheaper in July
- Sale of land - without this verification by a notary, the transaction will not be valid
- War is not the only threat - what will hinder business in Ukraine
