Saudi Arabia chemicals company Saudi Basic Industries Corp (SABIC) is evaluating an initial public offering (IPO) of its industrial gas unit, National Industrial Gases Company (NIGC).
The move comes amid restructuring as SABIC focuses on its core petrochemicals business, and would reposition NIGC for the energy transition.
SABIC’s global gases portfolio encompasses hydrogen, liquid argon, liquid carbon dioxide, nitrogen and oxygen. Operationally, it runs more than 60 sites across 43 countries.
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