Saudi Aramco weighs IPO of trading unit amid oil boom, says report

The trading unit could fetch a valuation of tens of billions of dollars, the people said, with two of them saying it could be potentially worth more than $30 billion.

Saudi Aramco is considering an initial public offering of its trading arm amid a boom in oil prices in what could be one of the world’s biggest listings this year, according to people with knowledge of the matter.

The state-controlled oil major is working with banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley as it studies a potential listing of Aramco Trading Co., the people said, asking not to be identified as the information isn’t public. 

The trading unit could fetch a valuation of tens of billions of dollars, the people said, with two of them saying