Lebanon’s central bank agrees to give A&M info for audit — finance ministry

Lebanon’s central bank agrees to give A&M info for audit — finance ministry
Lebanon’s central bank agrees to give A&M info for audit — finance ministry

Thank you for reading the news about Lebanon’s central bank agrees to give A&M info for audit — finance ministry and now with the details

Jeddah - Yasmine El Tohamy - 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 , one of the sources, and a third source, said.

The unit produces speciality engineering thermoplastic resins and compounds, composites, thermosets and additives, according to its website.

SABIC, HSBC and Morgan Stanley declined to comment.

The country had a flurry of public offerings last year as companies tap into Saudi demand for shares since oil giant Aramco’s record IPO in 2019.

Saudi Arabia is encouraging more companies to list in a bid to deepen its capital markets under reforms aimed at reducing its reliance on oil.

With a market capitalisation of $2.5 trillion, Saudi Arabia’s bourse, Tadawul, is the Arab world’s largest stock exchange.

Theeb Rent-a-Car Co, part owned by private equity firm Investcorp, earlier this month raised 516 million riyals ($137.59 million) by offering 30% of its shares.

These were the details of the news Lebanon’s central bank agrees to give A&M info for audit — finance ministry for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Barclays and BNP Paribas report bumper Q1 profits