Saudi Aramco to push ahead with IPO of energy-trading unit

Saudi Aramco to push ahead with IPO of energy-trading unit

Saudi Aramco is pushing ahead with plans for an initial public offering of its energy-trading business and is targeting a listing in Riyadh for the end of the year or early 2023, Bloomberg News reported on Wednesday.

The world’s top oil producer is in the process of adding more banks to the IPO, which could value the unit at more than $30 billion, Bloomberg reported, citing people familiar with the matter.

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