Saudi Aramco's base oil arm Luberef looks to raise up to $1.3b from IPO

Saudi Aramco's base oil arm Luberef looks to raise up to $1.3b from IPO

The Saudi Aramco logo is pictured at the company's oil facility in Saudi Arabia, REUTERS/Maxim Shemetov

Saudi oil giant Aramco‘s base oil subsidiary Luberef expects to raise up to 4.95 billion riyals ($1.32 billion) from its initial public offering, it said, if it prices at the top of a range announced on Sunday.