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ADNOC and Borealis consider partial IPO for Borouge

 Last Update: 2022-04-17
 Source: Internet
 Author: User

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Borouge owner Abu Dhabi National Oil Company and Austria's Borealis are considering launching part of Abu Dhabi's major polymer joint venture on the stock exchange for the first time, ICIS reported on February 18.

Borouge has the capacity to produce more than 4 million tonnes of polymers per year, including multiple grades of polyethylene (PE) and polypropylene (PP), most of which are sold to overseas markets in Asia

In December, Borouge said it would continue to invest $6.

ADNOC holds a 60% stake in Borouge; Borealis (now majority-owned by Austrian energy giant OMV) holds the remaining 40%

The companies did not disclose a possible timeline for the partial IPO, nor did they disclose financial details

"Borealis and ADNOC are considering a potential initial public offering of a minority stake in their joint venture Borouge .

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