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10/07/2025 06:22 AST
Saudi chemicals group SABIC said on Wednesday it was studying strategic options for its National Industrial Gases Company, including an initial public offering, amid a broad review of its business.
SABIC said in a statement that the move was in line with its portfolio optimization and core business focus strategy, adding that an IPO of GAS would be aimed at improving the group's "financial position and the value added for shareholders."
The chemicals industry has been grappling with weak demand and high input costs, leading to lower prices and squeezed margins.
SABIC, one of the world's largest petrochemical companies and 70 percent-owned by oil major Saudi Aramco, reported in May a first-quarter net loss of $323 million, citing a rise in operating costs and high feedstock costs.
Earlier this year, it also said it planned to cut costs and find new investment opportunities, while restructuring some core assets and offloading non-core businesses.
It has already divested its stakes in Aluminium Bahrain, or Alba, and steel business Hadeed, selling both to other state-backed Saudi entities.
SABIC said on Wednesday that "the study remains ongoing, with each option subject to the necessary financial, technical, regulatory and economic assessments."
Its shares have fallen 16.3 percent since the beginning of the year, according to LSEG data.
Reuters
22/08/2025
The global petrochemicals industry is grappling with a wave of uncertainty. Sluggish economic growth in key markets, mounting geopolitical tensions, and trade barriers are weighing on demand. Adding
Asharq Al Awsat
04/08/2025
Chemicals production company Saudi Basic Industries Corp. announced the distribution of interim cash dividends amounting to SR4.5 billion ($1.19 billion) for the first half of the year.
Sha
Arab News
07/05/2025
Saudi Basic Industries Corporation (SABIC), one of the world's largest petrochemical companies, reported a net loss of 1.21 billion riyals ($322.6 million) for the first quarter of 2025, reflecting c
Asharq Al Awsat
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 59.55 | 0.00 (0.00 |
| SABICAGRINUTRIENTS | 116.00 | 1.00 (0.86 |
| YANSAB | 30.42 | -0.10 (-0.33 |
| LUBEREF | 94.70 | 0.75 (0.79 |
| ALBH | 1.08 | 0.00 (0.00 |
19/12/2025
In a move to consolidate its global network of destinations and provide diverse travel options to its valued customers, Kuwait Airways has announced the strengthening of its codeshare agreement with
Kuwait Times
19/12/2025
Ajman Bank has launched a digital extension to expand its bouquet of smart, customer-centric banking services.
The Digital Extension has been designed to provide customers with seamless acce
Khaleej Times
19/12/2025
Tecom Group PJSC, the creator of specialised business districts and communities in Dubai, has launched Phase 4 of Innovation Hub in Dubai Internet City to address rising demand for Grade-A office spa
Khaleej Times
19/12/2025
Acwa Power, the world's largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed a co-operation framework with the African Development B
Trade Arabia
19/12/2025
Saudia Cargo and the Saudi Export Development Authority inked a strategic memorandum of understanding, in a move set to accelerate the international reach of non-oil goods.
The agreement, si
Arab News
Financial Information Co.
Saudi Arabia