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2 Min Read DUBAI (Reuters) - Saudi Basic Industries Corp (SABIC) has selected HSBC and Morgan Stanley to work on the planned initial public offering (IPO) of its specialty chemicals business, two sources familiar with the matter said. SABIC, the world’s fourth-biggest petrochemicals firm, hired Saudi investment bank NCB Capital earlier this year to work on the public share sale, which sources said could raise several hundred million dollars. The specialty chemicals business brings in about $2 billion in sales each year for SABIC, which is controlled by state oil giant Saudi Aramco, one of t...

2 Min Read DUBAI (Reuters) - Saudi Basic Industries Corp (SABIC) has selected HSBC and Morgan Stanley to work on the planned initial public offering (IPO) of its specialty chemicals business, two sources familiar with the matter said. SABIC, the world’s fourth-biggest petrochemicals firm, hired Saudi investment bank NCB Capital earlier this year to work on the public share sale, which sources said could raise several hundred million dollars. The specialty chemicals business brings in about $2 billion in sales each year for SABIC, which is controlled by state oil giant Saudi Aramco, one of t...

Saudi Basic Industries Corp (SABIC) has selected HSBC and Morgan Stanley to work on the planned initial public offering (IPO) of its specialty chemicals business, two sources familiar with the matter said. SABIC, the world’s fourth-biggest petrochemicals firm, hired Saudi investment bank NCB Capital earlier this year to work on the public share sale, which sources said could raise several hundred million dollars. The specialty chemicals business brings in about $2 billion in sales each year for SABIC, which is controlled by state oil company Aramco, one of the sources, and a third source, s...