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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

MYSTERIOUS: Abu dhabi based borouge sets ipo price - What They Never Told You

Borouge Abu Dhabi IPO ADQ Abu Dhabi National Oil Company Borealis Oil
One of Borouge’s industrial units in Abu Dhabi. (WAM)

Abu Dhabi-headquartered petrochemicals firm Borouge said on Monday it has set the offer price for its initial public offering (IPO), which shows it could raise about $2 billion in the deal, and secured seven cornerstone investors.

The Abu Dhabi National Oil Company and Borealis' joint venture set the IPO price at 2.45 dirhams ($0.67) a share, which implies an equity value of $20 billion.

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