‎“Bloomberg”: Saudi Aramco is moving forward with plans for its ‎oil trading unit IPO

Bloomberg reported that Saudi Aramco is moving forward with plans for an initial public offering of its energy trading activities, and aims to list in Riyadh by the end of the year or early 2023.

According to “Reuters”, Bloomberg said on Wednesday, citing informed sources that the company, the largest oil producer in the world, is in the process of adding more banks to the initial public offering, which could value the unit at more than $30 billion.

The report added that no final decisions have been taken and that the initial offering may be postponed or canceled if market conditions worsen.