ADNOC, Borealis raise over $2 bil from JV IPO as UAE monetizes energy assets
May 31, 2022 Comments Off
Abu Dhabi National Oil Co. and Austria’s petrochemical company Borealis have raised over $2 billion from the initial public offering of their joint venture as the UAE’s state-owned oil producer boosts spending to finance its energy projects. ADNOC and Borealis sold a 10% stake in their joint venture Borouge, the UAE’s biggest petrochemical company, and will list the unit on…
ADNOC, Borealis raise over $2 bil from JV IPO as UAE monetizes energy assets
Abu Dhabi National Oil Co. and Austria’s petrochemical company Borealis have raised over $2 billion from the initial public offering of their joint venture as the UAE’s state-owned oil producer boosts spending to finance its energy projects. ADNOC and Borealis sold a 10% stake in their joint venture Borouge, the UAE’s biggest petrochemical company, and will list the unit on…
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