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- US govt shutdown sends airlines scrambling as travel chaos looms
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10/07/2025 06:22 AST
Saudi chemicals group SABIC said on Wednesday it was studying strategic options for its National Industrial Gases Company, including an initial public offering, amid a broad review of its business.
SABIC said in a statement that the move was in line with its portfolio optimization and core business focus strategy, adding that an IPO of GAS would be aimed at improving the group's "financial position and the value added for shareholders."
The chemicals industry has been grappling with weak demand and high input costs, leading to lower prices and squeezed margins.
SABIC, one of the world's largest petrochemical companies and 70 percent-owned by oil major Saudi Aramco, reported in May a first-quarter net loss of $323 million, citing a rise in operating costs and high feedstock costs.
Earlier this year, it also said it planned to cut costs and find new investment opportunities, while restructuring some core assets and offloading non-core businesses.
It has already divested its stakes in Aluminium Bahrain, or Alba, and steel business Hadeed, selling both to other state-backed Saudi entities.
SABIC said on Wednesday that "the study remains ongoing, with each option subject to the necessary financial, technical, regulatory and economic assessments."
Its shares have fallen 16.3 percent since the beginning of the year, according to LSEG data.
Reuters
22/08/2025
The global petrochemicals industry is grappling with a wave of uncertainty. Sluggish economic growth in key markets, mounting geopolitical tensions, and trade barriers are weighing on demand. Adding
Asharq Al Awsat
04/08/2025
Chemicals production company Saudi Basic Industries Corp. announced the distribution of interim cash dividends amounting to SR4.5 billion ($1.19 billion) for the first half of the year.
Sha
Arab News
07/05/2025
Saudi Basic Industries Corporation (SABIC), one of the world's largest petrochemical companies, reported a net loss of 1.21 billion riyals ($322.6 million) for the first quarter of 2025, reflecting c
Asharq Al Awsat
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 61.00 | -0.80 (-1.30 |
| SABICAGRINUTRIENTS | 120.10 | -2.40 (-1.96 |
| LIMEINDUSTRIES | 12.16 | 0.11 (0.91 |
| YANSAB | 32.00 | -0.36 (-1.12 |
| APICO | 36.92 | -0.08 (-0.22 |
07/11/2025
In a new achievement that confirms its leadership in adopting the highest sustainability standards, National Bank of Kuwait building won the award of Best Financial Building as part of the GCC Excell
Kuwait Times
07/11/2025
Adnoc Distribution Chief Executive Officer Bader Al Lamki said the company earmarks between $250 million and $300 million annually to support organic growth across the three countries where it operat
Trade Arabia
07/11/2025
IHC, the Abu Dhabi headquartered global investment company focused on building dynamic value networks, on Thursday reaffirmed that it does not intend to pursue the sale of its shareholding in Aldar P
Trade Arabia
07/11/2025
Aramex has resumed parcel and freight deliveries to Syria as of 15 September 2025, officially ending a suspension that lasted more than ten years. The move marks a major step in rebuilding trade rout
Gulfnews
07/11/2025
Parkin Company PJSC, Dubai's largest provider of paid public parking, reported record third-quarter results, with revenues up 43% year-on-year to Dh343.3 million, driven by higher tariffs, network ex
Gulfnews
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