RIYADH: Saudi oil giant Aramco is proceeding with its plan for an initial public offering of its energy-trading unit, in a move that would be one of the largest share sales in 2022, Bloomberg reported citing people familiar with the matter.
The listing is planned for the end of the year or early 2023, they added.
The oil company is currently adding more banks to the IPO, they explained, adding that it could value over $30 billion.
However, Aramco declined to comment, the report said.
Aramco Trading was established in 2011. It buys and sells crude oil, diesel and liquefied natural gas.