Luberef, as the refiner is known, dropped as much as 6.6 per cent in Riyadh to SAR92.5 ($24.61), valuing the company at SAR15.9bn
Americana and Luberef IPOs take the proceeds of Gulf listings this year to over $20bn
The company is planning to sell 50 million shares, or a nearly 30 per cent stake
Luberef would be joining several Aramco subsidiaries already listed on the Saudi stock exchange
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