Saudi Aramco Base Oil Co.
(LUBEREF)
2022
Nov
27 Nov 2022 Intention to Float
Dec
14 Dec 2022 Retail Subscription Start Date
18 Dec 2022 Retail Subscription End Date
22 Dec 2022 Announcement of the final allocation of the offer shares
28 Dec 2022 Refund of excess Subscription amounts (if Any)
IPO Facts
  • Issue TypeIPO
  • StatusListed
  • Exchange MarketTASI
  • SectorEnergy & Utilities
  • CountrySaudi Arabia
  • Offered Shares (M)50.05 Million Shares
  • Offered Percentage29.66 %
  • Offer Price (Riyal)99.00
  • Issue Volume4,954.46 Million
  • Premium89.00
  • Available Shares (Individual)12.51 Million Shares
  • Minimum Subscription (Individuals)10.00 Shares
  • Maximum Subscription (Individuals)250.00 Thousand Shares
  • Available Shares (Institutions)37.53 Million Shares
  • Minimum Subscription (Institutions)50.00 Thousand Shares
  • Maximum Subscription (Institutions)8.44 Million Shares
  • Eligibility _ Participating Parties, _ Individual Investors .
  • Use of ProceedsThe Net Proceeds which amount to SAR 4954.46 million will be received by the Selling Shareholder (Jadwa) (after the deduction of the expenses of the Offering, estimated at approximately SAR 85.00 million ), The Company will not receive any part of the Offering proceeds .
  • Restrictions on Dealing in SharesSaudi Aramco, being the only current Substantial Shareholder who will continue to hold Shares after the Offering, is prohibited from disposing its Shares for a period of 6 months from the start of trading of the Company’s shares on the Exchange. Saudi Aramco may dispose of their shares after the end of this period without obtaining the CMA’s approval .
  • Prospectus Downloads
Prospectus

Major Shareholders

Name Number of Shares (M) Holding
118.13 70.00 %

IPO results

Proceeds:
 SAR 2850 million
Subscription Percentage:
 230.10%
No. of Subscribers:
 524.85 thousand subscribers
Allocation:
 10 shares per individual subscriber & The remaining shares will be allocated on a pro rata basis at around 30.8537% on average .
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Financials Highlights (M)


USD Riyal
Description 2024
Sales 10,035.85
Net Income 972.03
Total Assets 7,739.25
Total Shareholders' Equity 4,397.46
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Company Projects

Yanbu Facility Growth II Expansion Project Saudi Arabia Under Construction
Yanbu Facility Growth I Expansion Saudi Arabia Completed
Yanbu Facility Saudi Arabia Completed
Jeddah Facility Growth II Expansion Project Saudi Arabia Completed
Jeddah Facility Growth I Expansion Project Saudi Arabia Completed

Company Board & Directors

Ibrahim Q. Al-Buainain
Chairman of the Board
Abdul Latif Saleh Abdullah Al-Shami
Deputy Chairman of Board of Directors
Andrew Stephen Catage
Board Member
Muhammad Fayez Saeed Al-Ahmari
Board Member
Khaled Al-Faddagh
Board Member

Milestones

  • 28-12-2022 Began trading on the Saudi Stock Exchange (Tadawul)
  • 18-08-2022 It was converted into a joint stock company.
  • 30-06-2022 The company’s capital was increased from SAR 441 million to SAR 1.687 billion through capitalizing retained earnings.
  • 2022 Two loading arms for the company were commissioned in Saudi Aramco’s Yanbu port.
  • 2017 Phase I of Yanbu expansion was completed, and the company started producing group II base oils.
  • 27-01-2014 The company incorporated Luberef FZE in the UAE.
  • 06-02-2013 The company’s name was changed to Saudi Aramco Base Oil Company – Luberef.
  • 20-06-1998 The company’s name was changed to Saudi Aramco Lubricating Oil Refining Company.
  • 1997 The Yanbu facility was commissioned with a production capacity of approximately 300,000 metric tons.
  • 23-07-1994 The company’s capital was increased from SAR 105 million to SAR 441 million.
  • 05-05-1987 The company’s capital was increased from SAR 26.26 million to SAR 105 million.
  • 1977 The Jeddah facility was commissioned with a production capacity of approximately 180,000 metric tons of group I base oils.
  • 19-06-1976 It was established as a limited liability company under the name “Petromin Lubricating Oil Refining Company”, with a capital of SAR 26.26 million.

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