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Sunday, January 29, 2023

Nw: ‎Petromin plans to waft shares on Saudi market: Document

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Fee of Petromin

Petromin, a Saudi Arabian automotive products and services firm, plans to waft shares in an preliminary public providing (IPO) within the Kingdom.

The firm is working with Saudi National Bank and Moelis & Co. on the ability providing, sources suggested Bloomberg, trying forward to the firm to enhance as great as $1 billion.

Particulars of the deal would possibly possibly seemingly well also trade, the sources acknowledged, adding that extra banks would possibly possibly seemingly well also moreover be added to the syndicate.

Petromin used to be established in 1968 as allotment of a joint venture between Saudi Aramco and Exxon Mobil. In 2013, Dabbagh Group obtained the firm and remodeled into a firm if truth be told objective appropriate in providing sustainable and innovative mobility solutions for participants and companies, per info on hand with Argaam.

Petromin for the time being operates eight segments, in conjunction with vehicle dealerships, immediate solutions, fuel stations, lubricants and auto components.

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