WAM
13 Jun 2022, 19:38 GMT+10
ABU DHABI, 13th June, 2022 (WAM) -- Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, has been included in FTSE Russell's FTSE Global Equity Index Series which includes three world-renowned indices - FTSE Emerging Index, FTSE Global Large Cap Index and FTSE All-World Index - as of 10th June, 2022.
FTSE Russell's indices are used by investors globally to inform asset allocation decisions and support portfolio construction. Joining these key Indices marks a major recognition of Borouge and underlines the Company's relevance to the global institutional investor base that participated in its recent initial public offering (IPO).
On 3rd June, 2022, ADNOC and Borealis successfully completed the Borouge IPO of 10% of the Company's total issued share capital on the Abu Dhabi Securities Exchange. The IPO raised gross proceeds of more than $2 billion becoming Abu Dhabi's largest-ever IPO and the Middle East's largest-ever petrochemicals listing.
The listing also saw overwhelming demand from UAE Retail Investors and Qualified Institutional Investors, achieving the highest retail oversubscription levels of any UAE IPO in almost two decades.
Established in 1998, Borouge combines the strength and experience of its majority shareholders ADNOC and Borealis, through its operations headquartered in Abu Dhabi, and sales and marketing headquartered in Singapore.
Today, Borouge is one of the world's leading providers of innovative and differentiated polyolefin solutions for the infrastructure, energy, agriculture, mobility, healthcare and advanced packaging industries. The Company employs over 3,100 people and serves customers in more than 50 countries across Asia, the Middle East and Africa.
Get a daily dose of Europe Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Europe Sun.
More InformationZURICH, Switzerland: The U.S. saw an extraordinary rise in wealth last year, with more than 1,000 people crossing into millionaire...
THE HAGUE, Netherlands: The city that prides itself on being a beacon of peace and justice—home to institutions like the International...
BUENOS AIRES, Argentina: Since taking office in December 2023, Argentine President Javier Milei has implemented sweeping austerity...
LEMBATA, Indonesia: Indonesia's Mount Lewotobi Laki Laki erupted dramatically on June 18, generating substantial ash and smoke plumes....
MADRID, Spain: A routine oversight by Spain's power grid operator, REE, has been identified as the trigger behind the large-scale blackout...
WASHINGTON, DC - In a bid to defuse speculation, U.S. President Donald Trump says he will make his decision on whether to have the...
SAO PAULO, Brazil: Brazil is taking confident steps to restore its dominance in global poultry exports after declaring its commercial...
NEW YORK, New YorK - U.S. stocks closed mixed on Friday, with gains and losses modest, as investors and traders weighed up the escalation...
WASHINGTON, D.C.: Retail sales dropped sharply in May as consumer spending slowed after a strong start to the year, primarily due to...
WASHINGTON, D.C.: Mitsubishi Motors is the latest automaker to raise prices in the United States, joining a growing list of car companies...
INDIANAPOLIS, Indiana: Eli Lilly is making a bold play in cardiovascular gene therapy, announcing plans to acquire its partner Verve...
BEIJING/WELLINGTON: New Zealand's Prime Minister Christopher Luxon commenced his visit to China on June 17, seeking to strengthen trade...