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Petromin may float IPO next year: report

: Wednesday, July 23 - 2014 @ 06:57

Saudi-based Petromin, the Middle East’s oldest lubricants company, may launch an initial public offering (IPO) in 2015 after owner Dabbagh Group cancelled a proposed 20% stake sale, Bloomberg has reported, citing two people familiar with the matter. The offer may value Petromin at $700m to $1bn, the people said. Dabbagh scrapped an earlier plan to sell the stake ahead of the IPO, according to the people.

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Wednesday, July 23- 2014 @ 6:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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