Fertiglobe to IPO and trade on Abu Dhabi Securities Exchange – The National

Fertiglobe to IPO and trade on Abu Dhabi Securities Exchange – The National

Fertiglobe, the world’s largest seaborne exporter of urea and ammonia combined, and the Middle East and North Africa’s largest producer of nitrogen fertilisers by production capacity, plans to list on the Abu Dhabi Securities Exchange, selling 13.8 per cent of the company's share capital.

The IPO is open to individuals and other investors in the UAE as part of a retail offering and to qualified institutional and other investors as part of the qualified investor offering, the joint venture between OCI and Abu Dhabi National Oil Company, said in a statement on Tuesday.

Adnoc holds a 42 per cent stake in Fertiglobe, with OCI retaining the majority 58 per cent interest. OCI is listed on the Euronext Amsterdam exchange and has Egyptian billionaire Nassef Sawiris as its biggest shareholder. The export-focused nitrogen fertiliser business was formed in 2019 following the merger of Adnoc's fertiliser arm and OCI's Middle East nitrogen fertiliser business. Fertiglobe is headquartered at the Abu Dhabi Global Market.