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Saudi Basic Industries Corporation (SABIC) announces the initiation of a study and evaluation of certain strategic options concerning its subsidiary, the National Industrial Gases Company (GAS)
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Basic Industries Corporation (SABIC) announces the initiation of a study and evaluation of certain strategic options concerning its subsidiary, the National Industrial Gases Company (GAS) in line with SABIC's priorities of optimizing its portfolio and focusing on its core business, including the possibility of an initial public offering of (GAS) in the main market, and listing of its shares, with the aim of enhancing its financial position and the value added for shareholders. SABIC confirms that the study remains ongoing, with each option subject to the necessary financial, technical, regulatory and economic assessments.
If a decision is made to proceed with the IPO, it will be subject to obtaining the relevant approvals, including regulatory approvals, and prevailing market conditions.
Until then, any material developments will be announced by SABIC as required by the relevant law and regulations. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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