Saudi chemicals group SABIC studying IPO of its gas unit

SABIC is one of the world’s largest petrochemical companies and 70 percent-owned by oil major Saudi Aramco. Shutterstock
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Updated 09 July 2025
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Saudi chemicals group SABIC studying IPO of its gas unit

  • SABIC said move in line with its portfolio optimization and core business focus strategy
  • Study remains ongoing, with each option subject to necessary assessments

DUBAI: Saudi chemicals group SABIC said on Wednesday it was studying strategic options for its National Industrial Gases Company, including an initial public offering, amid a broad review of its business.

SABIC said in a statement that the move was in line with its portfolio optimization and core business focus strategy, adding that an IPO of GAS would be aimed at improving the group’s “financial position and the value added for shareholders.”

The chemicals industry has been grappling with weak demand and high input costs, leading to lower prices and squeezed margins.

SABIC, one of the world’s largest petrochemical companies and 70 percent-owned by oil major Saudi Aramco, reported in May a first-quarter net loss of $323 million, citing a rise in operating costs and high feedstock costs.

Earlier this year, it also said it planned to cut costs and find new investment opportunities, while restructuring some core assets and offloading non-core businesses.

It has already divested its stakes in Aluminium Bahrain, or Alba, and steel business Hadeed, selling both to other state-backed Saudi entities.

SABIC said on Wednesday that “the study remains ongoing, with each option subject to the necessary financial, technical, regulatory and economic assessments.”

Its shares have fallen 16.3 percent since the beginning of the year, according to LSEG data.


Saudi Absher platform delivers over $5.3bn in annual economic impact 

Updated 18 December 2025
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Saudi Absher platform delivers over $5.3bn in annual economic impact 

RIYADH: The Saudi government’s Absher digital services platform generates more than SR20 billion ($5.3 billion) in annual economic impact, highlighting the scale of savings created by the Kingdom’s transition from paper-based government procedures to digital services, according to the Ministry of Interior. 

Speaking to Al-Eqtisadiah, Bandar bin Mashari, assistant minister of interior for technology affairs, said the savings reflect broader efficiency gains from digitization. 

This comes as government services previously delivered through manual, paper-driven processes have moved onto a unified digital platform used by millions of citizens and residents. 

“Absher is one of the oldest platforms that has had a direct impact on strengthening the efficiency of spending and in opening new avenues for providing added value services,” said Mashari. 

He said the platform’s economic impact is closely linked to the government’s digital transformation agenda, which aims to reduce operational costs while improving service delivery across public agencies. 

The assistant minister further stated that the economic impact was at SR17 billion and grew to SR20 billion according to the ministry’s latest data. 

He added that Absher has completed a shift in its financial structure, transitioning from direct state capital funding to a sustainable financing model based on self-generated income. 

Mashari also said the Ministry of Interior is moving to expand its digital capabilities beyond service delivery, with a focus on security and financial protection. 

Authorities are working toward building a secure digital ecosystem designed to combat financial fraud and crime, he said, as digital transactions and online government services continue to expand. 

Absher is the flagship digital services platform of Saudi Arabia’s Ministry of Interior and one of the Kingdom’s earliest large-scale e-government initiatives. 

Launched in 2010, the platform provides citizens, residents, visitors, and businesses with access to hundreds of government services through a unified digital portal and mobile application. 

Its services span civil affairs, passports, residency and visa services, as well as traffic and vehicle transactions, and business administration, significantly reducing the need for in-person government visits. 

Absher is widely used across the Kingdom, handling millions of electronic transactions each month and serving as a core pillar of Saudi Arabia’s broader digital transformation and Vision 2030 agenda.