Borouge reported that the adjusted EBITDA increased 1.7 per cent to $1,512m, whilst net income increased 2.5 per cent to $853m
Upon completion, the new project will add an additional 1.4 million tonnes of polyethylene
The market value of shares owned by foreign investors in Q1 2022 jumped 163 per cent to total Dhs131bn
The retail offering, which attracted higher retail demand than any UAE IPO in nearly 20 years, was 74 times oversubscribed
This the largest-ever listing in Abu Dhabi’s history since ADNOC Drilling’s $1.1bn IPO; EFG Hermes was also joint bookrunner for the IPO
Borouge’s shares will start trading on June 3
The IPO subscription period has commenced today, May 23, and will close for retail investors on May 28, 2022
It intends to float 10 per cent of its petrochemicals joint venture that it entered into with Austria’s Borealis
The new facility will increase Borouge’s polypropylene production capacity by more than 25 per cent to 2.24 million tonnes per year