SABIC, GASCO mull TASI listing for GAS
In two separate statements to Tadawul, both Saudi-listed firms said that the step comes to enhance added value for shareholders, stressing that the strategic options currently being evaluated are subject to the completion of studies related to financial, technical, and legal aspects.
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In the event of reaching a decision to proceed with the IPO, the process will be subject to obtaining the relevant approvals, including regulatory approvals, and prevailing market conditions, both firms added.
Until then, any material developments will be announced by SABIC as required by the relevant law and regulations, the Saudi-listed firms indicated.
According to data available on Argaam, GAS' capital stands at SAR 248 million. SABIC owns 74% of the company's shares, while GASCO holds 9%.
GAS was established in Saudi Arabia in 1983. Its primary activity is the production of industrial gases, which it supplies to various industries.
The company achieved a net profit of SAR 415.8 million in 2024.
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