Adnoc, OCI plan to list 13.8% of Fertiglobe shares on ADX

Adnoc, OCI plan to list 13.8% of Fertiglobe shares on ADX

The Abu Dhabi National Oil Company (Adnoc) and OCI backed fertiliser partnership, Fertiglobe, on Tuesday announced its intention to float a 13.8 percent stake on the Abu Dhabi Securities Exchange (ADX) through an initial public

offering (IPO).

This offering is open to UAE citizens and residents, as well as domestic and international institutional investors. The offer is expected to open on October 13, 2021, subject to regulatory approvals and other considerations.

Fertiglobe is the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertiliser producer in the Mena region by production capacity, and an early mover in clean ammonia. It benefits from potential future uses of ammonia as part of the nascent clean hydrogen economy, where clean ammonia could serve as an efficient energy carrier or as a clean fuel.

Formed in September 2019, Fertiglobe is a strategic partnership between OCI (58%) and Adnoc (42%), combining four strategically located production facilities across the Mena region, to create a single platform that has the largest net ammonia export production capacity in the region.

Through the potential offering, investors will be able to purchase shares in a key player in the global nitrogen fertiliser and ammonia sector with an attractive growth story and investment