Saudi Aramco’s Luberef Refinery Unit Plans $1 Billion IPO
- Luberef appoints local unit of HSBC, SNB Capital as advisers
- Saudi stock market is one of 10 best performers in the world
This article is for subscribers only.
Saudi Aramco Base Oil Co., a unit of the state-controlled oil producer, is planning an initial public offering that may raise over $1 billion, according to people familiar with the matter.
Luberef, as the refining company is also known, appointed the local unit of HSBC Holdings Plc and SNB Capital to advise on the offering, the people said, asking not to be identified as the information is private. The plan is to sell a 30% stake owned by Jadwa Investment, the people said.