Energy Markets
Saudi chemical group SABIC studies IPO of its Gas Unit
Saudi chemicals group SABIC announced on Wednesday that it is evaluating strategic options, including an IPO, for its National Industrial Gases Company. This comes amid a review of the company's business. SABIC stated in a press release that the move is in line with the company's portfolio optimization strategy and its core business focus. It added that an IPO for GAS will be aimed at improving "the group's financial position and value added to shareholders". Chemicals industry is struggling with low demand and high input cost, which has led to lower prices and squeezed profit margins. SABIC is one of...