Oct 20 (Reuters) – Saudi Aramco (2222.SE) is moving forward with plans to list its energy trading business and is targeting a listing in Riyadh by the end of the year or early 2023, Bloomberg News reported Wednesday.
The world’s largest oil producer is in the process of adding more banks to the IPO, which could value the entity at more than $30 billion, Bloomberg reported, citing people familiar with the matter.
No final decisions have been made and the IPO may be postponed or canceled if market conditions deteriorate, the report added.
Aramco did not immediately respond to a Reuters request for comment.
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Reporting by Ann Maria Shibu in Bengaluru; Edited by Jan Harvey
Our standards: The Thomson Reuters Trust Principles.
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