Aramco Refining Unit Plans Billion-Dollar IPO ...Middle East

Luberef, a refining unit of Saudi oil giant Aramco has hired major international banks to manage its imminent initial public offering on the Saudi stock market that could raise around $1 billion, Bloomberg reports. Banks, including Citigroup and HSBC Holdings Plc, will lead the share sale, which Luberef announced in a statement this weekend.   SNB Capital, HSBC, Citi, and Morgan Stanley are listed in Luberef’s announcement as joint financial advisors, bookrunners, global coordinators, and underwriters of the IPO process. Luberef…

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