Saudi Arabia - Saudi energy giant Aramco is moving ahead with its plan for an IPO of its energy-trading unit, in a move that could result in one of the largest share sales in 2022, reported Bloomberg citing people familiar with the matter.

The listing of Aramco Trading is being planned for year-end or early 2023, they stated.

The oil company is currently adding more banks to the IPO, they explained, adding that it could value over $30 billion.

Aramco Trading was established in 2011. It buys and sells crude oil, diesel and liquefied natural gas.

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