Saudi Basic Industries Corporation (SABIC) announces the initiation of a study and evaluation of certain strategic options concerning its subsidiary, the National Industrial Gases Company (GAS)
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| Announcement Detail | Saudi Basic Industries Corporation (SABIC) announces the initiation of a study and evaluation of certain strategic options concerning its subsidiary, the National Industrial Gases Company (GAS) in line with SABIC's priorities of optimizing its portfolio and focusing on its core business, including the possibility of an initial public offering of (GAS) in the main market, and listing of its shares, with the aim of enhancing its financial position and the value added for shareholders. SABIC confirms that the study remains ongoing, with each option subject to the necessary financial, technical, regulatory and economic assessments.
If a decision is made to proceed with the IPO, it will be subject to obtaining the relevant approvals, including regulatory approvals, and prevailing market conditions.
Until then, any material developments will be announced by SABIC as required by the relevant law and regulations. |
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