Logo of Saudi Aramco Base Oil Co. (Luberef)
The lock-up period on Saudi Aramco Base Oil Co.’s (Luberef) major shareholder, Saudi Arabian Oil Co. (Saudi Aramco), ends today, July 2 – six months after its shares were listed on the Saudi Exchange (Tadawul) on Dec. 28, 2022.
The lock-up was imposed on the major shareholder owning a 70% stake, or 118.13 million shares of Luberef’s total share capital of 168.75 million.
The major shareholder may now dispose of its shares without prior approval from the Capital Market Authority (CMA).
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Luberef's Major Shareholder |
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Shareholders |
Post IPO |
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Number of Shares (mln shares) |
Stake (%) |
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Saudi Aramco |
118.13 |
70% |
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