Saudi Aramco Base Oil Company (Luberev) is set to offer 29.66% of the equivalent of about 50 million shares for public subscription and list its shares on the main market of the Saudi Exchange.
NCB Capital in its capacity as Lead Manager, Financial Advisor, Bookrunner, International Coordinator and Underwriter, Citigroup Saudi Arabia, HSBC Saudi Arabia and Morgan Stanley Saudi Arabia as Financial Advisors, Bookrunners, International Coordinators and Underwriters announced Luberef's potential initial public offering.
In a statement on the Saudi Market website, the final offering price for all subscribers will be determined after the end of the book-building period, as the retail subscription is scheduled to begin on December 14.
Luberef received Saudi Exchange's approval for its listing application on the Main Market on November 24, and the Capital Market Authority (CMA) approved its application to offer 50.05 million ordinary shares (29.66% of its capital) for public subscription on November 24.
