Borouge included in FTSE Global Equity Index Series
- Date: 14-Jun-2022
- Source: The Gulf Time
- Sector:Financial Markets
- Country:UAE
Borouge included in FTSE Global Equity Index Series
Local News, News
Abu Dhabi / WAM
Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, has been included in FTSE Russell’s FTSE Global Equity Index Series which includes three world-renowned indices – FTSE Emerging Index, FTSE Global Large Cap Index and FTSE All-World Index – as of June 10.
FTSE Russell’s indices are used by investors globally to inform asset allocation decisions and support portfolio construction. Joining these key Indices marks a major recognition of Borouge and underlines the Company’s relevance to the global institutional investor base that participated in its recent initial public offering (IPO).
On June 3, Adnoc and Borealis successfully completed the Borouge IPO of 10% of the Company’s total issued share capital on the Abu Dhabi Securities Exchange. The IPO raised gross proceeds of more than $2 billion becoming Abu Dhabi’s largest-ever IPO and the Middle East’s largest-ever petrochemicals listing.
The listing also saw overwhelming demand from UAE Retail Investors and Qualified Institutional Investors, achieving the highest retail oversubscription levels of any UAE IPO in almost two decades.
Established in 1998, Borouge combines the strength and experience of its majority shareholders ADNOC and
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