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Saudi Basic Industries Reportedly Weighing IPO for Gas Division
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Saudi Basic Industries Corporation (SABIC) is considering spinning off its National Industrial Gases division for an IPO within this year, Bloomberg cited sources.

The company is in preliminary talks with potential advisors Lazard, HSBC HOLDINGS (00005.HK), JP Morgan (JPM.US), and Morgan Stanley (MS.US).

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The discussions are still in the early stages, and no final decisions have been made as to the timing of the IPO or the appointment of advisors, the report cited sources.

SABIC holds a 74% stake in National Industrial Gases.
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