ADNOC plans to float 10% stake of Borouge on Abu Dhabi Securities Exchange

ADNOC plans to float 10% stake of Borouge on Abu Dhabi Securities Exchange

Abu Dhabi National Oil Company (ADNOC) is planning to float 10 percent of Borouge on the Abu Dhabi Securities Exchange (ADX) through an initial public offering (IPO).

UAE-based Borouge is a joint venture of the Abu Dhabi National Oil Company and Austria-based chemical company Borealis.

The company said that the offering is expected to open on 23rd May 2022, subject to regulatory approvals and other relevant considerations.

Through a potential listing of a minority stake in Borouge, ADNOC is offering investors another highly compelling investment opportunity to invest in a company that is set to play a vital role in the sustainable growth of Abu Dhabi and the UAE.

Dr. Sultan bin Ahmed Al Jaber

UAE Minister – Industry & Advanced Technology

MD & Group CEO – ADNOC “Together with our long-standing partner Borealis, I am delighted to announce our intention to float a minority stake in Borouge, our petrochemicals joint venture, on the Abu Dhabi Securities Exchange. Following the highly successful listings of ADNOC Distribution, ADNOC Drilling, and Fertiglobe, ADNOC is bringing to the market a UAE-based, globally competitive market leader. This world-class business provides cutting-edge manufacturing, consumer, and infrastructure solutions and offers innovative technologies. This latest offering will be open to all citizens and