#Saudi Aramco Weighs IPO of Trading Unit Amid Boom in Oil Prices - Bloomberg

Saudi Aramco Weighs IPO of Trading Unit Amid Boom in Oil Prices - Bloomberg

Saudi Aramco is considering an initial public offering of its trading arm amid a boom in oil prices in what could be one of the world’s biggest listings this year, according to people with knowledge of the matter.

The state-controlled oil major is working with banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley as it studies a potential listing of Aramco Trading Co., the people said, asking not to be identified as the information isn’t public.

The trading unit could fetch a valuation of tens of billions of dollars, the people said, with two of them saying it could be potentially worth more than $30 billion.

Aramco, which recently became the world’s most valuable company, could sell a 30% stake in the division, two of the people said, which would make it one of the world’s biggest IPOs this year. South Korea’s LG Energy Solution raised about $10.8 billion in January.