Borouge joins FTSE russell’s global stock index
Borouge plc, the leading petrochemical company which provides innovative and diversified polyolefin solutions and listed on the Abu Dhabi Securities Exchange (ADX) last week, has joined the FTSE Index Series Russell’s global stock index on 10 June 2022.
Russell’s includes three globally known indices – the FTSE Emerging Index, the FTSE Global Index of Large Capital Companies, and the FTSE Global Standard Index.
Investors around the world are guided by FTSE Russell’s benchmarks for asset allocation and portfolio building decisions. Borouge’s accession to these key indicators reflects the company’s leading position, diversified global presence and strong growth trajectory, and contributes to supporting the diversification of its shareholder base and attracting more investors from all over the world.
On 3 June 2022, ADNOC and Borealis successfully completed the listing of an equity stake in Borouge, representing 10% of the total issued share capital, on the ADX. The IPO has raised more than $2 billion, making it the largest IPO ever in Abu Dhabi’s history and the largest for a petrochemical company in the Middle East.
The offering witnessed a high demand from individual investors and qualified investors in the UAE, achieving the highest levels of coverage by individual investors in the UAE for nearly two decades.
Founded in 1998, Borouge combines the strengths and experience of its major shareholders, ADNOC and Borealis, through its petrochemical production facilities in Abu Dhabi and its marketing and sales centers in Singapore. Borouge is one of the world’s leading providers of innovative and diversified polyolefin solutions to serve sectors including infrastructure, energy, agriculture, automotive, healthcare, and advanced packaging.
The company employs more than 3,100 employees and serves clients in more than 50 countries in Asia, the Middle East and Africa.
Multiply Group Too
Abu Dhabi-based technology-focused holding company Multiply Group has also been added to the FTSE Global Equity Index Series (FTSE GEIS) Mid Cap Index in its June quarterly review.
FTSE GEIS is part of the FTSE Russell, a global index that provides innovative benchmarking, analytics and data solutions for investors worldwide.
It provides a global equity index framework and includes over 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets globally, with a wide range of modular indexes available to target specific markets and market segments.