SABIC considers National Industrial Gases IPO: Report

11:57 AM (Mecca time) Argaam
Logo ofSaudi Basic Industries Corp. (SABIC)

Logo of Saudi Basic Industries Corp. (SABIC) 

Saudi Basic Industries Corp. (SABIC) is considering an initial public offering (IPO) of its affiliate, National Industrial Gases Co., as part of a broader operational review, Bloomberg reported citing sources familiar with the matter.

 

SABIC is in early discussions with potential advisors, including Lazard, HSBC Holdings, JPMorgan Chase, and Morgan Stanley, regarding a potential listing this year.

 

For More IPOs

 

The sources further indicated that the talks are still in their preliminary stages, and no final decisions have been made regarding timing or advisor mandates.

 

According to data available on Argaam, National Industrial Gases’ capital stands at SAR 248 million. SABIC owns 74% of the company’s shares, and National Gas and Industrialization Co. (GASCO) holds 9%.

 

Established in 1983, the company is primarily active in the production of industrial gases and their supply to various industries.

 

National Industrial Gases reported a net profit of SAR 415.8 million in 2024.

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