Saudi IPO: Schlumberger-Backed Arabian Drilling Hires Banks for Share Sale - Bloomberg
Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired banks for its planned initial public offering and also is mulling a merger with ADES International Holding Plc, according to people familiar with the matter.
Arabian Drilling appointed the Saudi unit of HSBC Holdings Plc and SNB Capital as financial advisers for a planned share sale on the Riyadh stock exchange, the people said, asking not to be identified because the information is private. The deal could value the company at more than $1.4 billion, the people said.
Oil-services provider ADES was taken private last year in a deal backed by Saudi Arabia’s Public Investment Fund, the people said. That valued ADES at $516 million.
No comments:
Post a Comment