Midland, Michigan -- Dow Chemical has clarified how much of the Sadara joint venture with Saudi Aramco will be subject to an initial public offering (IPO) by the Saudi government, the main shareholder through Aramco.
The Saudi Petroleum and Natural Resources Minister Ali Al-Naimi , said on 10 January 2014 that the state would float an unspecified share of Sadara.
Dow said in a statement to UTECH-polyurethane.com/Urethanes Technology International that it is "a 35% shareholder in Sadara Chemical Company (Sadara), a joint venture with Saudi Aramco. A minority interest of 30 %, comprising a portion of Saudi Aramco’s interest, is intended to be the subject of an IPO, to allow the Saudi public to participate in the investment. Sadara will work with the Saudi Capital Market Authority to determine the IPO timing."