The Arab drilling and ownership of Shalomberger plans to ask an initial public can be granted an assessment of about $ 2 billion, according to Bloomberg.
According to Arab Net, the company has requested Saudi manufacturing and energy services known as energy, from banks to make their offers for a role in the event management management.
The sources said the Arab drilling company could complete its shares on the Riyadh Stock Exchange before the end of the year. As they pointed out that no decisions could be completed and shareholders could make a decision against the IPO.
Arab Drilling Company was established in 1964 and Saudi Aramco is among its main customers. While 51% has the remaining share of Schlemberg.
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The Saudi market was one of the most prosperous IPO markets in the Middle East over the past two years, and this momentum is expected to continue amid the improvement of the economy, which began to recover from Corona's pandemic Oil fall.
According to Bloomberg, the Saudi Basic Industries Company SABIC, aims to include its specialized unit in chemicals, and Saudi Telecom may also be a stake in its Internet Services Unit. As well as an advantage of the Saudi Stock Exchange Management Company
Trading.
The Saudi Financial Market (Tadawul) witnessed a decline in approximately 30% at the beginning of 2020, but was recovered at an end. Recommended indicators, 22.3%, according to the Middle East newspaper.
