It is reported that Saudi Basic Industries Company is exploring the possibility of conducting an IPO for its natural gas business.

Saudi Basic Industries Corporation (Sabic) is exploring its first initial public offering for its natural gas business, and is currently in negotiations with potential advisors. Sabic's affiliate, National Industrial Gases Company, holds 74% of its shares, with revenues reaching 1.6 billion Saudi Riyals by 2024. Additionally, Sabic has also ventured into the natural gas business through its petrochemicals sector. Discussions are still in the preliminary stages, with final decisions yet to be made regarding the timing of the IPO or the appointment of advisors. This move is part of the company's broader operational review and cost-cutting restructuring plan.