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Chemical Joint Venture Borouge IPO Raises $2 Billion, Share Price Increases by 20% with $24 Billion Market Value
3rd June 2022 | Hong Kong
Borouge, a chemical joint venture between Adnoc & Borealis, has raised $2 billion (10% share sale) at IPO, with share price increasing by more than 20% with market value of $24 billion on day 1 of trading (3/6/22, Abu Dhabi Securities Exchange). The IPO attracted more than $83 billion of order placement worldwide. Adnoc (Abu Dhabi National Oil Company (ADNOC), is a diversified and integrated group of energy companies and is one of the world’s largest oil company. Borealis, an Austrian chemical company, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals.
“ Chemical Joint Venture Borouge IPO Raises $2 Billion, Share Price Increases by 20% with $24 Billion Market Value “
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