#Borealis

IPO

Offer price for Abu Dhabi’s largest ever listing set at Dhs2.45 per share

The IPO subscription period has commenced today, May 23, and will close for retail investors on May 28, 2022

ADNOC

ADNOC begins process to list Borouge on Abu Dhabi Securities Exchange

It intends to float 10 per cent of its petrochemicals joint venture that it entered into with Austria’s Borealis

ADNOC Borealis acquisition

Abu Dhabi National Oil Company to acquire 25% stake in Borealis

The investment in Borealis expands ADNOC’s international footprint in the fast-growing chemicals and petrochemical sector in Europe and the Americas

Adnoc

Adnoc, Borealis seek $2bn from IPO of plastics JV

The state-owned energy company and Austrian chemicals producer plan to sell a 10 per cent stake in their Borouge plastics unit by the end of the quarter

Borouge starts up fifth polypropylene unit in Ruwais

The new facility will increase Borouge’s polypropylene production capacity by more than 25 per cent to 2.24 million tonnes per year

ADNOC, Borealis hiring banks for IPO of plastics joint venture

Borouge manufactures plastics used in everything from automobiles and food packaging to medicine vials and piping systems