Fertiglobe IPO may raise as much as $827m – The National

Fertiglobe IPO may raise as much as $827m – The National

Fertiglobe, the joint venture between Abu Dhabi National Oil Company and Dutch fertiliser company OCI, may raise as much as $827 million in an initial public offering after the company priced its shares on Wednesday.

The company is selling more than 1.145 billion shares representing 13.8 per cent of the company’s share capital. The shares have a price range between Dh2.45 and Dh2.65, implying an equity valuation of $5.5 billion to $6bn. Based on the minimum price range the company would raise at least $765m from the listing.

The company is the world’s largest seaborne exporter of urea and ammonia and is the region's largest producer of nitrogen fertilisers by production capacity.