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.  Luberef will sell nearly 30% of the company's issued share capital, or 50.045 million shares, at between 91 and 99 riyals each, the company said in a statement.  A minimum of 75% of the Luberef shares being sold will be offered to institutional investors, with bookbuilding getting underway on Sunday and running until Friday.  The final share price will be announced next Sunday, with subscriptions for individual investors running from Dec. 14 to Dec. 18. A date has not yet been set for shares to begin trading on Riyadh's Tadawul exchange.  Aramco owns 70% of Luberef and Saudi investment bank Jadwa Investment the remaining 30%.  Saudi Aramco's record listing in late 2019, later boosted to total $29.4 billion in proceeds, was the world's largest IPO.  Aramco, which has raised billions from deals linked to its pipeline infrastructure, is also planning an IPO of its energy-trading business.  The Kingdom's privatization program is a cornerstone of its Vision 2030 economic agenda to wean the economy off oil, build new industries and create jobs.