Abu Dhabi National Oil Company (ADNOC) and Austria’s Borealis AG are considering a potential initial public offering (IPO) of their joint venture plastics business Borouge.
“ADNOC and Borealis will provide further material updates as and when appropriate,” ADNOC said in a statement. The share sale would be for a minority stake, it said without disclosing further details.
Last year ADNOC listed its drilling business in Abu Dhabi’s largest IPO yet. Fertiglobe, a joint venture between ADNOC and chemical producer OCI, also had a market debut last year and ADNOC floated shares in its distribution business in 2017. Writing by Yousef Saba Editing by David Goodman
This article was originally published by Reuters.
Two ultra-luxury waterfront homes to be sold only on completion as more high-net-worth individuals want…
FIA President Mohammed Ben Sulayem says manufacturer’s announcement shows there is real momentum behind the…
Return of the FIA Formula One World Championship to Africa “a historic moment for our…
Dubai South leads off-plan sales for seventh consecutive month Dubai, UAE, 6th October, 2026: The…
The Gulf’s stock markets were tested this year, and they held. That is the real…
Dubai, UAE, 30th August, 2026: The President of Paraguay, H.E. Santiago Peña, joined FIA President…