{"id":577783,"date":"2022-12-05T04:08:50","date_gmt":"2022-12-05T04:08:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/"},"modified":"2022-12-05T04:08:50","modified_gmt":"2022-12-05T04:08:50","slug":"aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/","title":{"rendered":"Aramco\u2019s base oils subsidiary could raise up to USD 1.3 bn in its IPO in Riyadh"},"content":{"rendered":"

<\/a> Aramco subsidiary could raise as much as USD 1.3 bn in its IPO: <\/strong>Saudi Aramco refining subsidiary Luberef commenced bookbuilding for its debut on the Saudi stock exchange at a price range of SAR 91-99 (USD 24.21-26.34) per share yesterday, the company said in a statement (pdf)<\/a>. Luberef will offer a 30% stake<\/a> (c.50 mn shares) currently held by private equity firm Jadwa Industrial Investment Company, raising as much as SAR 5.0 bn (USD 1.3 bn) at the top end of the range. Saudi Aramco will retain its 70% stake in the company.<\/p>\n

What\u2019s next:<\/strong> Bookbuilding wraps this Friday, 9 December. The final share price will be announced alongside the final prospectus on 11 December, followed by the retail subscription period from 14-18 December, according to the IPO website<\/a>. The company has yet to determine its planned first day of trading.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

14,079<\/p>\n<\/td>\n

\n

+3.2% (YTD: +17.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 24.55<\/p>\n<\/td>\n

\n

Sell 24.63<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 24.55<\/p>\n<\/td>\n

\n

Sell 24.61<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

13.25% deposit<\/p>\n<\/td>\n

\n

14.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

10,724<\/p>\n<\/td>\n

\n

-0.9% (YTD: -4.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

10,545<\/p>\n<\/td>\n

\n

+1.7% (YTD: +24.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,324<\/p>\n<\/td>\n

\n

+0.6% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,072<\/p>\n<\/td>\n

\n

-0.1% (YTD: -14.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,556<\/p>\n<\/td>\n

\n

0.0% (YTD: +2.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

3,978<\/p>\n<\/td>\n

\n

-0.2% (YTD: -7.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 85.57<\/p>\n<\/td>\n

\n

-1.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 6.28<\/p>\n<\/td>\n

\n

-6.8%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,809.60<\/p>\n<\/td>\n

\n

-0.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 17,117<\/p>\n<\/td>\n

\n

+1.0% (YTD: -63.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 3.2% at yesterday\u2019s close<\/strong> on turnover of EGP 2.38 bn (44.6% above the 90-day average). Local investors were net buyers. The index is up 17.8% YTD.<\/p>\n

In the green: <\/strong>AMOC (+11.0%), Fawry (+8.6%) and Sidi Kerir Petrochemicals (+8.3%).<\/p>\n

In the red: <\/strong>Eastern Company (-1.1%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Aramco subsidiary could raise as much as USD 1.3 bn in its IPO: Saudi Aramco refining subsidiary Luberef commenced bookbuilding for its debut on the Saudi stock exchange at a price range of SAR 91-99 (USD 24.21-26.34) per share yesterday, the company said in a statement (pdf). Luberef will offer a 30% stake (c.50 mn […]<\/p>\n","protected":false},"author":1,"featured_media":577784,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[394,72,119,78,1621,122,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-aramco","tag-enterpriseam","tag-financial-markets","tag-ipo-watch","tag-luberef","tag-planet-finance","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"d06ee0e4-2313-4eec-8de3-ca70bdc3a9af","is_powered_by":true,"section_story_id":"1a32e6c8-d4f6-4fb6-9754-e843ac1a1247","story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/73.jpg","photo_position":"above","related_issue":[577761],"teaser":"","voice_url":""},"yoast_head":"\nAramco\u2019s base oils subsidiary could raise up to USD 1.3 bn in its IPO in Riyadh - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco\u2019s base oils subsidiary could raise up to USD 1.3 bn in its IPO in Riyadh\" \/>\n<meta property=\"og:description\" content=\"Aramco subsidiary could raise as much as USD 1.3 bn in its IPO: Saudi Aramco refining subsidiary Luberef commenced bookbuilding for its debut on the Saudi stock exchange at a price range of SAR 91-99 (USD 24.21-26.34) per share yesterday, the company said in a statement (pdf). Luberef will offer a 30% stake (c.50 mn […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-05T04:08:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/73.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Aramco\u2019s base oils subsidiary could raise up to USD 1.3 bn in its IPO in Riyadh\",\"datePublished\":\"2022-12-05T04:08:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/\"},\"wordCount\":247,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/73.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Aramco\",\"EnterpriseAM\",\"Financial Markets\",\"IPO watch\",\"Luberef\",\"Planet Finance\",\"Saudi Arabia\"],\"articleSection\":[\"PLANET FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/\",\"name\":\"Aramco\u2019s base oils subsidiary could raise up to USD 1.3 bn in its IPO in Riyadh - 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Luberef will offer a 30% stake (c.50 mn […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-12-05T04:08:50+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/73.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Aramco\u2019s base oils subsidiary could raise up to USD 1.3 bn in its IPO in Riyadh","datePublished":"2022-12-05T04:08:50+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/"},"wordCount":247,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/73.jpg?fit=%2C&ssl=1","keywords":["Aramco","EnterpriseAM","Financial Markets","IPO watch","Luberef","Planet Finance","Saudi Arabia"],"articleSection":["PLANET FINANCE"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/","name":"Aramco\u2019s base oils subsidiary could raise up to USD 1.3 bn in its IPO in Riyadh - 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