ADNOC reveals offer price for Borouge IPO as Asia’s richest man invests in Abu Dhabi’s largest listing – Arabian Business

ADNOC reveals offer price for Borouge IPO as Asia’s richest man invests in Abu Dhabi’s largest listing – Arabian Business

The Abu Dhabi National Oil Company (ADNOC), together with its long-standing partner Borealis AG, have revealed the offer price for the initial public offering (IPO) of Borouge plc, their petrochemicals joint venture, on the Abu Dhabi Securities Exchange (ADX).

The price per share for the offering has been set at AED 2.45, implying an equity value of $20 billion, AED 73.6 billion, making the Borouge IPO the largest-ever listing to date in Abu Dhabi’s history.

The offer price was determined by ADNOC and Borealis – as the selling shareholders – following investor engagement that saw significant strong initial demand indications from both local and international investors ahead of the start of the subscription period.