Affiliate of Abu Dhabi oil company to list on stock exchange

  • Date: 19-May-2022
  • Source: Al-Monitor
  • Sector:Oil & Gas
  • Country:UAE
  • Who else needs to know?

Affiliate of Abu Dhabi oil company to list on stock exchange

The Abu Dhabi National Oil Company (ADNOC) announced today that one of its affiliates will soon list on the Abu Dhabi stock exchange. 

Borouge is ADNOC’s joint venture with the Austrian petrochemical firm Borealis AG. ADNOC and Borealis will float 10% of Borouge on the Abu Dhabi Securities Exchange, ADNOC said in a tweet. 

The move was motivated by “the growth of the UAE’s capital market and economic diversification,” per the tweet. 

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