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Asharq Al-Awsat

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Abu Dhabi - Asharq Al-Awsat

Abu Dhabi's Borouge to Sell 10% of Shares in IPO, List on ADX

Borouge ADX Abu Dhabi ADNOC IPO Borealis Group Oil

One of Borouge’s industrial units in Abu Dhabi. (WAM)

Abu Dhabi National Oil Company (ADNOC) and its Austrian chemicals partner Borealis plan an initial public offering of their petrochemicals joint venture Borouge, the latest step in the Abu Dhabi state energy group’s asset monetization program.

Borouge, which is a specialty plastics firm that produces polyolefin, said on Wednesday it planned to list its shares on the Abu Dhabi Securities Exchange (ADX).

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