SABIC, GASCO weigh IPO of GAS on TASI 

Logo of  National Industrial Gases Co. (GAS)

Saudi Basic Industries Corp. (SABIC) and National Gas and Industrialization Co. (GASCO) have begun studying and evaluating a number of strategic options for their investee company, National Industrial Gases Co. (GAS), including a potential initial public offering (IPO) and listing of its shares on the Main Market (TASI).

In separate statements to Tadawul, SABIC and GASCO said the move aims to enhance shareholder value, adding that the strategic options under review remain subject to the completion of financial, technical, and legal assessments.

For More IPOs

If a decision is made to proceed with the IPO, the transaction will be subject to the necessary approvals, including regulatory clearances, and prevailing market conditions.

The companies noted that any material developments will be announced in accordance with applicable laws and regulations.

According to Argaam data, GAS has a capital of SAR 248 million. SABIC holds a 74% stake in the company, while GASCO owns 9%.

Founded in 1983 in Saudi Arabia, GAS specializes in the production of industrial gases and supplies them to various sectors. The company reported a net profit of SAR 415.8 million in 2024.